The Tata Group’s purchase of Air India in 2022 was much hailed as a turning point for the faltering carrier. Given Tata’s aviation background and stellar reputation for business acumen, expectations for a comeback were great. But over two years after the takeover, Air India’s performance has fallen short. Persistent difficulties include operational inefficiency, customer discontent, flight delays, and legal obstacles have been present. Tata has great ideas for Air India’s future, but the change period has been stormy. This paper analyzes the airline’s performance upon acquisition, pointing up important problems and areas in which Tata is failing to live up to expectations.