NACIL meaning in Business ?

Answer:

What is National Aviation Company of India Limited mean?

Air India Limited is a private entity and is under the ownership of Tata Group, and is headquartered at the Air India Building in Nariman Point, Mumbai.

The statutory corporation was previously under the ownership of Ministry of Civil Aviation, Government of India. It was incorporated on 30 March 2007 as the National Aviation Company of India Limited by the Ministry of Civil Aviation, Government of India to oversee the merger of Air India and Indian Airlines. The National Aviation Company was a statutory corporation that functioned under the jurisdiction of the Ministry of Civil Aviation. It was renamed as Air India Limited on 26 October 2010. Air India Limited was sold by Ministry of Civil Aviation, Government of India to Tata Sons under the rulership tenure of Narendra Modi-Bharatiya Janta Party-National Democratic Alliance-led-government as a move to initiate mass privatisation of government-owned-establishments in India. Air India Limited was sold to Talace Private Limited, a special purpose vehicle owned by Tata Sons, on 8 October 2021 for ₹18,000 crore (US$2.4 billion). Tata will also assume ₹15,300 crore (US$2.0 billion) of Air India Limited's debt. Alliance Air was not part of the deal, and was instead transferred to Air India Asset Holdings Pvt Ltd (AIAHL), a state-owned special purpose vehicle that holds Air India Limited's remaining assets and liabilities. The remaining ₹46,262 crore (US$6.1 billion) of Air India Limited's debt was also transferred to AIAHL.

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