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.

1 Like 0 Dislike
Previous news Next news
Other news

Bangladesh Protests: At least 300 people have died so far in Bangladesh due to violence, and curfew imposed across the country

Students' protest against reservation continues in Bangladesh. There is a curfew here at 6 pm on

AirIndia Express: Even today, more than 70 flights of Air India Express were canceled, 25 employees lost their jobs and the rest got an ultimatum.

Air India Express flight operations are being disrupted. This problem has arisen due to the

PM Modi: The Prime Minister expressed concern over digital fraud, and cybercrime, and said- it will have a serious impact on social life

Prime Minister Narendra Modi on Sunday once again expressed concern about digital fraud and cyber

India and Sri Lanka agree to intensify bilateral military exercises, review defense cooperation

India and Sri Lanka agreed to intensify bilateral military exercises. Along with this, resolved t

Imran Khan: 'Yes I was a Playboy', why did former Pak PM say this to General Bajwa at a party?

Ex-Army Chief called Imran Khan Playboy: Former Prime Minister of Pakistan Imran Khan has now com

KGF Chapter 2: 'KGF 2' to be released in Russia, record 5000 tickets sold as soon as booking opens in the UK

After SS Rajamouli's Baahubali film RRR, the South Indian film that fans are waiting for is KGF C

Kalki 2: After Deepika's exit from 'Kalki 2', director Nag Ashwin's cryptic post said,

Deepika Padukone's fans were shocked when news broke that she would no longer be a part of the se

'Dil Se Bura Lagta Hai Bhai...', this last video of Devraj Patel who made the world laugh is making everyone cry

YouTuber & Comedian Devraj Patel's Last Instagram Video: Once again bad news is coming out fr

Sidhu Moosewala: Father of main accused Lawrence Bishnoi reaches Supreme Court, challenges Punjab to grant transit remand

The father of Lawrence Bishnoi, the main accused in the Sidhu Moosewala murder case, has filed a

Banned Kerala PFI leaders were in touch with IS and Al Qaeda, NIA reveals in the special court

The National Investigation Agency (NIA) has made important disclosures regarding the banned Popul

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash