Air India: The command of Air India will be handed over to Tata by the end of this week, know the complete details of the acquisition

Posted on 24th Jan 2022 05:20 pm by rohit kumar

The time has finally come to hand over Air India to the Tatas. A report quoting senior officials said that the command of Air India is expected to be handed over to Tata this week on January 26, Republic Day.

 

 

The deal was done for Rs 18,000 crore

Significantly, on October 8, 2021, the government had sold Air India to Tales Private Limited, a subsidiary of Tata Group's holding company, for Rs 18,000 crore last year. Subsequently, on October 11, a letter of intent was issued to the Tata Group, officially confirming the government's intention to sell its 100 percent stake in the airline. After this, on October 25, 21, the Center had signed a Share Purchase Agreement (SPA) for this deal.

 

 

Third airline brand in Tata group

The rest of the formalities regarding the deal are expected to be completed in the next few days and the airline will be handed over to the Tata group by the end of this week, officials said on Monday. As a part of the deal, the Tata Group will also be handed over a 50 percent stake in Air India Express and ground handling arm Air India SATS. Whereas this will be the first privatization after 2003-04. With this, Air India will be the third airline brand in the Tata group. Earlier, the group held a majority stake in AirAsia India and Vistara.

Other news

Ricky Ponting becomes a punishment for Virat Kohli and Rohit Sharma, every historical work creates obstacles!

Former Australian captain Ricky Ponting is counted among the legend batsmen of the world, in his

Mega-Merger: HDFC and HDFC Bank will merge, under this deal HDFC will have a 41% stake in HDFC Bank

Housing Development Finance Corporation (HDFC) and HDFC Bank have announced a merger. Under this

Mahakumbh Stampede: PM Modi expressed grief over the accident, spoke to CM Yogi four times; said- in touch with the state government

There is a possibility of 10 crore more people taking a bath in the Ganga on Mauni Amavasya today

Nuclear Attack on Ukraine: Is Putin preparing for a nuclear attack? Why are Russian soldiers stationed in Belarus?

The Ukraine war has now reached a dangerous point. The war equations are giving an alarming signa

IPL 2023: Ben Stokes increased the difficulties of MS Dhoni, CSK will not like this decision of the English all-rounder

The stage is all set for IPL 2023. From March 31, an exciting brawl between 10 teams is about to

Justice U U Lalit: Justice UU Lalit will be the new CJI, Chief Justice Raman recommends to the government

Chief Justice of the Supreme Court Justice NV Ramana today elected Justice UU Lalit as his succes

Weather Update Today: Snowfall in the mountains increased cold, know the weather condition in Delhi-UP and other states

Weather patterns are changing rapidly in North India. Mercury is falling rapidly in all the state

Donald Trump will contest the 2024 presidential election: Making the official announcement, America has to be made great

Former US President Donald Trump has announced they're to contest the 2024 presidential election.

Sri Lanka crisis: President Gotabaya Rajapaksa softens, calls a meeting of political parties on possible government formation

Amid mounting pressure on Prime Minister Mahinda Rajapaksa to resign, Sri Lankan President Gotaba

Joe Biden's balance was disturbed: US President slipped while climbing the stairs of the plane, held himself by holding the side railing

A video of US President Joe Biden is going viral on social media. In this video, Biden is seen st