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

UP Chunav Results 2024: BSP did not get the sky, Mayawati's graph also fell; SP caused the most dent to BSP

Bahujan Samaj Party has suffered a crushing defeat in the Lok Sabha elections. Forget about winni

Dollar vs Rupee: Rupee will bow before the dollar, what will be the effect of this weakness on the country, who will be in profit?

The depreciation of the Indian rupee continues due to the strengthening of the dollar. In the ear

Modi to attend G-7 summit today: India's stand on the situation in the Indo-Pacific region will be discussed; PM will go from Germany to UAE

Prime Minister Narendra Modi will attend the G-7 summit on Monday at the Schloss Elmau Palace in

Rajasthan: Rajasthan constable recruitment exam paper also leaked after REET, exam canceled

In Rajasthan, the matter of reet paper leak has not cooled down yet that another paper leaked. Th

World Cup 2023: Ruckus in this country after the crushing defeat against India, Sports Minister dismissed the entire cricket board, know

Sri Lanka's Sports Minister Roshan Ranasinghe on Monday sacked the National Cricket Board after t

Deepika Padukone's pictures with the baby went viral, she was seen pampering the baby while holding him in her lap

B-Town's glamorous queen Deepika Padukone has now become a mother. On September 8, the actress ga

Thalapathy 69: 'Dalapathy 69' gets a big deal in North America, excitement at its peak for Vijay's last film

'Dalapathi 69' will be South Superstar Vijay's last film before entering politics. Fans are keepi

China sent a spy ship into the Indian Ocean: India's missile test information can be tracked and reached close to the Bali coast

India is scheduled to conduct a ballistic missile test from Wheeler Island (Odisha's Abdul Kalam

Rupee Vs Dollar: Rupee reaches the lowest level with the fall of 18 paise, inflation will increase in the country, importers will suffer losses

The Indian rupee on Thursday hit a historic low against the US dollar amid firming overseas marke

After Badlapur, brutality in Akola! Teacher used to molest girl students in school; accused arrested

There was a lot of uproar in the city on Tuesday after a case of harras abuse of two girls came t