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

IPL 2025: 'I got one more chance..', the struggle of Karun Nair who scored 89 runs in 40 balls, you will get emotional after reading

Delhi Capitals may have lost the second match of the doubleheader played on Sunday in IPL 2025, b

Election Commissioner: Fake social media posts are becoming a challenge for fair elections… said CEC Rajeev Kumar

Chief Election Commissioner Rajeev Kumar on Tuesday said fake social media posts are affecting fr

India vs Sri Lanka: 'Sixer King' Rinku Singh is ready to make a splash in Sri Lanka; called his parents and said - something good will happen

IPL star and Sixer King Rinku Singh is ready to rock the series starting in Sri Lanka with his ba

Jaishankar: 'The phase of talks with Pakistan is over', Jaishankar said amid PM Modi's invitation to the SCO summit

External Affairs Minister Dr. S Jaishankar attended a book release ceremony in Delhi. During this

World Population Day 2023: A family welfare promotion ceremony will be held in every district of Rajasthan

On Tuesday, on the occasion of World Population Day, family welfare promotion honor ceremonies wi

Asia Cup: 'He ran away with the trophy,' Suryakumar Yadav accuses Naqvi of serious mischief! He reveals what happened at the awards ceremony.

While the Indian team was awaiting the trophy after defeating Pakistan by five wickets in the Asi

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

QR Code: Information about TV, fridge, oven and all electrical appliances on QR code, the government has given permission

Information related to TV, fridge, oven, and all electrical appliances will be available with the

IND vs ENG Test: Rohit-Agarkar was seen having a serious discussion on the field itself, was there any discussion on bringing back Virat Kohli?

After leveling the series 1-1 by defeating England by 106 runs in Visakhapatnam, both the teams h

Heavy rain alert in 6 states: 14.18 inches of water fell in Bhopal in 36 hours, husband and wife died due to flowing in a drain in Rajasthan

Madhya Pradesh, Rajasthan, Uttar Pradesh, Himachal, Bihar, and Chhattisgarh have been receiving h