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

Supreme Court stays Saibaba's release: Lawyer said - he is disabled; Court said - no body for terror, the mind is needed

The Supreme Court has stayed the Bombay High Court's acquittal of former Delhi University profess

Uttarkashi Cloudburst: Kheer Ganga has returned to its old place, scientists clarified based on satellite images

In the pain of Dharali, we can see man's big mistake in not understanding nature. Of course, the

India uneasy with Sri Lanka's stand on Chinese spy warship, Indian Navy alert

India is uneasy about the arrival of the Chinese spy warship Yuvan Wang-5 at Sri Lanka's Hambanto

Baltimore Bridge Collapse: American comics made a racist cartoon on the Baltimore accident, Indians called it shameful

US President Joe Biden also praised the quick action of the 22-member crew of the cargo ship 'Dal

The biggest rail project on the border, this scared China: The train will reach the throat of China from the belly of the Himalayas; Learn 4 reasons for the restlessness of the Chinese army

I am at present in Karnprayag of Chamoli district. Like Tawang, Galvan, Doklam of the China borde

China in support of anti-India Pak terrorists: Saved by vetoing for the second time in two days

For the second time in two days, China has saved a Pakistani terrorist from being declared a Glob

UGC: Recognition of colleges will now be canceled if the rules of refund of fees are not followed, written order is issued for strict action

If the rules of refund fees are not followed, now the recognition of colleges will be cancelled.

Weather Update: Fog affected 20 states including Delhi, trains and flights were affected; Today the rain will increase and the cold will increase

More than half of the country has not got a respite from the severe cold and dense fog. There was

Detonators, ammonium nitrate... how did the explosion near the Red Fort happen? Links to the Faridabad terrorist module were also connected.

The blast in front of the Red Fort in Delhi has shaken the entire nation. Police are on high aler

Antibiotic to kill superbugs: New drug will kill bacteria on which antibiotics are ineffective; 70 lakh lives will be saved

The discovery of a new antibiotic drug could save nearly 7 million lives lost to superbugs every