Air India is owned by the central government of India.
Formerly known as the National Aviation Company of India Ltd., the airline was incorporated to facilitate the merger of state-owned airlines air India and Indian Airlines. It is headquartered in Mumbai and operates on both domestic and international routes.
The airline was founded as Tata Airlines in 1932 and became a public limited company in 1946 by the brand name of Air India. On the other hand, Indian Airlines was established in 1953 by merging seven domestic airlines following the nationalization of independent airlines in India. Since the airline was saddled with losses and debt, it was decided to go ahead with the current operational reengineering exercise by the Civil Aviation Ministry. This resulted in the Air India and Indian Airlines merger which was cleared by the cabinet in March 2007. Post merger, it was decided that the new entity will be known as Air India while retaining the mascot label of Maharaja.
Air India operates flights to more than 100 domestic and international destinations across Asia, North America and Europe. It has hubs in the metro cities of Mumbai, Delhi, Kolkata, Chennai and Bengaluru. It has a fleet of 105 aircrafts with Boeing 777 and 747s flying on international destinations and Boeing 787s on both domestic and international routes.
The government has proposed an equity infusion worth Rs. 25 billion in the Union Budget 2015-16 but the company remains over leveraged with a total debt of about Rs. 500 billion. In July 2014, Air India joined the world’s largest airlines alliance ‘Star Alliance’ which has 27 member airlines operating in more than 190 countries.
No. of Passengers Carried in FY 2014-15: 20.2 million