Air India is carving out an bold renaissance beneath the Tata Group conglomerate, which regained management earlier this 12 months after the airline was nationalised almost seven many years in the past.

The airline is near inserting landmark orders for as many as 500 jetliners probably price over $100 billion at record costs from each Airbus and Boeing, Reuters reported over the weekend, citing business sources.

The report got here days after Tata introduced the merger of Air India with Vistara, a three way partnership with Singapore Airlines, to cement itself because the nation’s largest worldwide provider and second largest within the home market after IndiGo.

Read | Air India close to finalise deal of 50 Boeing 737 MAX planes for Air India Express

The merged Air India entity can have 218 planes and fly to 52 home and 38 worldwide locations.

Here is Air India’s timeline that features monetary troubles, repute drop and Tata’s plans to revive it.

1932

Entrepreneur JRD Tata, the primary Indian to obtain a industrial pilot’s license, varieties the airline, India’s first.

1946

Tata Airlines is transformed right into a public entity and renamed Air-India. The Maharajah mascot additionally makes his first look.

1953

Air India is nationalised and splits right into a home airline and a world provider.

April 2005

Air India launches low-cost provider Air India Express.

April 2007

National carriers Air India and Indian Airlines are merged right into a single airline.

July 2009

The airline appoints State Bank of India to organize a roadmap for restoration after years of losses beneath state management and emergence of latest gamers.

April 2012

India approves a $5.8 billion bailout for Air India, which was to be acquired by 2020.

March 2018

India plans to promote a controlling stake, together with roughly $5.1 billion of the provider’s debt.

June 2018

India cabinets a plan to promote a 76% stake on account of lack of curiosity from bidders.

December 2019

India decides to promote 100% of its stake after failing to search out takers for its provide of 76% and full debt.

October 2020

The authorities will get two bids after extending the 2020 deadline a number of instances.

September 2021

India’s finance ministry says Air India has acquired monetary bids from Tata Sons and Ajay Singh, promoter of price range airline SpiceJet.

October 2021

India authorities publicizes Tata Sons because the successful bidder for its 100% stake in Air India, after the conglomerate bid Rs 17,994 crore.

January 2022

Tata regains management of Air India

April 2022

Air India proposes to purchase all the fairness share capital of low price provider AirAsia India, which Tata has a majority stake in and operates with Malaysia’s AirAsia X Bhd

May 2022

Tata publicizes appointment of Campbell Wilson, the top of Singapore Airlines’ price range provider Scoot, as Air India’s CEO, weeks after appointing N. Chandrasekaran as chairman.

October

Singapore Airlines says it’s in talks with Tata a couple of potential merger of Vistara, their three way partnership airline, with Air India

November 2022

AirAsia sells its stake in AirAsia India to Air India.

November 2022

Tata says it’s merging Air India with Vistara, its three way partnership with Singapore Airlines, with Tata holding 74.9 per cent of the mixed entity and the latter proudly owning the remainder.