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

Ashok Gehlot's show of strength was considered by the high command to be a breach of trust and an insult, the price will have to be paid

Rajasthan CM Ashok Gehlot was being seen as the next president of the Congress till Sunday aftern

Pawan Kheda's bail hearing in Supreme Court today: Controversial statement given on PM Modi; Arrested from Delhi airport

The Supreme Court is likely to pronounce its verdict today on the interim bail granted to Congres

PM Modi: PM Modi on a two-day visit to Andhra-Kerala, will gift projects worth more than Rs 4000 crore

Prime Minister Narendra Modi will be visiting South India on a two-day tour from today. As part o

China-Taiwan Tension: If the war broke out between China-Taiwan, chip manufacturing will stop, this will affect the smartphone market

There is a dispute between China and America on the issue of Taiwan. Relations between the two co

Trying to imprison women in homes in Afghanistan: Taliban stopped studies, also banned adult women from going to the mosque

The Taliban regime in Afghanistan is brutally suppressing women's rights. It was only after the T

Lok Sabha Election: JDS once again dependent on family, dynastic politics becomes the biggest weakness of the party

The issue of dynasty politics is talked about a lot in the country's politics. Janata Dal (Secula

Global Investors Summit: A box of concessions will open for investors from all over the world in UP, and all industrial policies will change

Yogi government is going to lay a new 'red carpet' of attraction for investors in Uttar Pradesh.

India should not play against Pakistan in the Asia Cup, former captain draws attention to the situation in the country.

Former Indian captain Mohammad Azharuddin has expressed concern over the Asia Cup match between I

Rahul Gandhi Attack: 'Keeping the address of the house to Lok Kalyan Marg does not benefit the people' - Rahul Gandhi takes a jibe at the Modi government

Rahul Gandhi on PM Modi Over Inflation: Former Congress President Rahul Gandhi has often been att

Karnataka Masjid Controversy: Section 144 imposed in Srirangapatna city due to mosque dispute, VHP has called for a rally today

Section 144 of CrPC has been imposed in Srirangapatna town of Mandya district of Karnataka. This