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

Tamil Nadu Floods: The Air Force came as an angel for the woman trapped in the flood, and gave birth to a child the very next day

The southern districts of Tamil Nadu are facing floods these days. Air Force and Army are engaged

Business News: Unemployment rate rises to 7.45 percent in February, decline in manufacturing and consumption

The unemployment rate in the country has increased once again. It stood at 7.45 percent in Februa

Preparation for war against the fourth wave of Corona: Posting of 27 junior doctors in PMCH, you should also be careful

Because of the fear of the fourth wave of Corona, preparations are going on for the Bihar governm

Seema Haider love story: left late at night after questioning, now the team was taken along again, important inputs were received from IB

For the love of PUBG partner Sachin Meena, Seema Haider, who came to India via Nepal with four ch

Maharashtra Political Crisis: 'Send the rebel MLAs to Bengal, we will take good care, CM Mamta takes a jibe at BJP

Maharashtra Political Crisis: West Bengal Chief Minister Mamata Banerjee, known for her sharp att

Russia Ukraine War: Modi government will bring home thousands of Indians trapped in Ukraine, know what is plan 'B'

After Russia attacked Ukraine, trouble has come on the Indians living there. Thousands of Indian

T20 World Cup India Squad: The Indian team announced for the T20 World Cup; Gill and Jitesh dropped; Ishan and Rinku return.

Defending champions India, led by Suryakumar Yadav, will defend their title in next year's T20 Wo

IND vs AUS Test: Australia gets a shock before the Adelaide day-night test, Hazelwood is out, but these two bowlers get a chance

The Australian team has suffered a major setback ahead of the second Test to be played in Adelaid

World Cup 2023, 44 Days Left: Yuvraj Singh, the hero of the 2011 WC, did not leave the team even after being unwell

India won the trophy in the 2011 ODI World Cup by defeating Sri Lanka in the final. This tourname

IPL 2024: 'Time will tell who is happy, who is not...', this MI veteran's statement on the captaincy dispute between Rohit-Hardik

Former Indian team and Mumbai Indians spinner Harbhajan Singh has stated the ongoing captaincy di