- Mozambique on edge as judges rule on disputed election
- Mobile cinema brings Tunisians big screen experience
- Philippines says to acquire US Typhon missile system
- Honda and Nissan to launch merger talks
- Police arrest suspect who set woman on fire in New York subway
- China vows 'cooperation' over ship linked to severed Baltic Sea cables
- Australian tennis star Purcell provisionally suspended for doping
- Asian markets track Wall St rally as US inflation eases rate fears
- Luxury Western goods line Russian stores, three years into sanctions
- Wallace and Gromit return with comic warning about AI dystopia
- Philippine military says will acquire US Typhon missile system
- Afghan bread, the humble centrepiece of every meal
- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- InterContinental Hotels Group PLC Announces Transaction in Own Shares - December 23
- Melrose Group Publicly Files Complaint to the Ontario Securities Commission
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
- Lonely this Christmas: Vendee skippers in low-key celebrations on high seas
Struggling Air India sold after 69 years in govt hands
India's beleaguered national carrier landed back in the hands of its founders Thursday, decades after it was nationalised and following years as a monumental burden on the public purse.
Tata, a sprawling family-owned conglomerate with interests ranging from tea to software, is back in charge of Air India after concluding the 180 billion rupee ($2.4 billion) deal.
Thursday's handover marked the end of a long search for a buyer by India's government, which has spent nearly $15 billion propping up the airline since 2009.
"We are totally delighted that this process is complete and very happy to have Air India back," Tata Sons chairman N. Chandrasekaran told reporters after meeting with Prime Minister Narendra Modi.
"We look forward to working with everyone to create a world-class airline."
Air India was founded in 1932 and its maiden flight was piloted by J.R.D. Tata, then-chairman of the eponymous firm.
The airline offered a slice of the high life, showcasing Bollywood actresses in its advertisements and even commissioning Spanish surrealist Salvador Dali to design its ashtrays.
India's newly independent government bought a majority stake in 1953 but by the end of the century the venture was struggling to compete with Gulf carriers and no-frills airlines.
Successive Indian governments tried to privatise the company but its huge debts and New Delhi's insistence on retaining a stake -- since abandoned -- put off would-be buyers.
Tata will take on around a quarter of Air India's 615 billion-rupee debt, while the remainder will be transferred to a special-purpose vehicle.
In return it gets a fleet of around 120 aircraft, 6,200 airport gate slots in India and a further 900 overseas for a carrier that operates half of all international flights from India.
Analysts believe the deal will give the struggling airline a much-needed lift.
"Air India is one of the most neglected government organisations ever. Now that freshness will come back," aviation sector analyst Mark Martin told AFP.
"We'll see an Air India which is more bright, more chirpier, more customer-friendly, more people-oriented."
Tata Group is one of India's biggest and oldest companies with a workforce of more than 800,000 people across steelmaking, automobiles and tech.
It already owns a 51 percent stake in rival airline Vistara alongside minority partner Singapore Airlines and a majority stake in AirAsia's Indian operations.
India's government is planning to sell off a suite of other public assets including oil and gas corporation Bharat Petroleum and insurance agency LIC.
D.Cunningha--AMWN