Mumbai, Nov 29 (NationPress) Tata Sons Chairman N. Chandrasekaran emphasized on Saturday that Air India represents more than a mere business enterprise for the Tata Group; it is a responsibility they are dedicated to upholding. At an event commemorating the 121st birth anniversary of J. R. D. Tata, he highlighted the obstacles and the considerable potential within India’s aviation sector.

“I genuinely believe that for the Tata Group, Air India transcends a business opportunity. It embodies a responsibility,” he stated.

Chandrasekaran noted that Air India is currently undergoing significant transformation, although progress has been slower than anticipated due to global supply chain issues.

He pointed out that the airline is facing challenges such as shortages of aircraft components, infrastructure delays, and unpredictable schedules for new aircraft, complicating operational planning.

Moreover, he mentioned that the global aviation industry is grappling with similar challenges, where rising expenses and narrow profit margins add to the strain.

In January 2022, the Tata Group acquired the struggling Air India and Air India Express and initiated an ambitious five-year strategy aimed at modernizing their operations.

However, setbacks in aircraft upgrades and delivery timelines have caused delays.

Despite these challenges, Chandrasekaran affirmed the group's unwavering commitment to revitalizing the airline.

He also underscored the robust growth potential of India’s aviation market. He stated that a one percent increase in India’s GDP corresponds to approximately a two percent rise in domestic air travel.

If India maintains an annual growth rate of around 8 percent, the aviation sector could potentially expand by nearly 16 percent each year.

Chandrasekaran predicted that this trend will likely persist for the next thirty years, providing a prolonged window of opportunity for airlines and related industries.

He characterized the upcoming years as a thrilling phase for both India’s economy and aviation sector, while also emphasizing that the environment remains unpredictable.

“Every plan becomes difficult due to the situations you encounter in this sector,” he remarked, alluding to global disruptions impacting the industry.

Nevertheless, he reiterated that the Tata Group is resolute in its goal to transform Air India and restore its legacy as a premier global airline.