Win-win deal for all: Jyotiraditya Scindia on Air India takeover

New Delhi, Jan 28: Civil aviation minister Jyotiraditya Scindia on Friday said the Tata Group's takeover of Air India is a win-win situation for all stakeholders concerned.

"A carrier that had a running loss of Rs 85,000 cr over last 14 yrs, was earning losses of almost Rs 20 cr a day, that money can be used much more for areas that require social development..." Scindia told ANI.

"We'll have a player with tremendous capabilities for int'l & domestic traffic -a party that probably has a game plan & strategy to ensure best value for our customers. It'll be a win-win position for all stakeholders in this industry," he added.

The Indian government handed over Air India to the Tata Group on Thursday afternoon, after approximately 69 years when it was taken from the conglomerate.

After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited -- a subsidiary of the Tata Group's holding company -- for Rs 18,000 crore.