The flag carrier has placed huge orders to expand its fleet and is in the process of merging with full-service airline Vistara.

It's hard to imagine many Indian households that aren't somehow touched by the $100 billion conglomerate named for the family of Ratan Tata, who died this week at the age of 86. Tata has been a mythical name in Indian consumers' imaginations for generations.

Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday.