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

Bangladesh Unrest: BNP leader shot dead, pre-election violence continues unabated in Bangladesh.

Pre-election political violence continues in Bangladesh following the murder of youth leader Usma

Gujarat: PM Modi visits school command and control center, will lay the foundation stone of schemes tomorrow

Prime Minister Narendra Modi is on his three-day visit to Gujarat. During this, on Monday, he vis

This feature of the iPhone 14 Series can be found in Samsung Galaxy S23 series, this is how it works

Samsung Galaxy S23: Apple's smartphones are popular all over the world. The reason for this is th

Stock Trading Tips: Today there is a chance to earn in these stocks, follow these tips before the market opens

Day trading guide for Monday: The market is going through ups and downs. The short-term range for

India-Sri Lanka series will be able to see in the stadium: spectators will not be seen in the first T20 in Lucknow; 50% of fans will get entry during both the matches in Dharamsala

The first match of the home T20 series against Sri Lanka will be played in the stadium without th

Maharashtra Politics: Hearing on 16 rebel MLAs postponed, court restrains both factions from taking any decision in disqualification case

Amid the political upheaval in Maharashtra, the Shinde faction has got a big relief from the Supr

Sitharaman said- If Muslims are not happy in India then why would there be more population than in Pakistan, attack on Western perception

Nirmala Sitharaman on Muslims Union Finance Minister Nirmala Sitharaman today attacked the 'negat

PM Modi participates in the 'Veer Bal Diwas' program, organized at Major Dhyanchand Stadium in Delhi

Prime Minister Narendra Modi on Monday participated in a program in the memory of Guru Gobind Sin

Indian Economy: Due to the ongoing war between Russia and Ukraine, the pace of economic growth may slow down, Globaldata reduced GDP estimates

Indian Economy: Due to the ongoing war between Russia and Ukraine, a bad effect can be seen on th

Supreme Court: 'Supreme' challenge given to some provisions of Places of Worship Special Provisions Act; CJI's bench will hear today

The Supreme Court will hear on Thursday a batch of PILs challenging the validity of certain provi