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

Samay Raina's father is in Jammu, the stand-up comedian got emotional and said- 'My dad called me for the last time...'

After the Pahalgam terror attack, India attacked Pakistan, after which the Pak Army is continuous

Israel vs Hezbollah: Israel caused heavy destruction in Lebanon, and attacked 1600 locations simultaneously; 500 people died

Israel has opened a front against Hizbullah in Lebanon. The IDF has caused heavy havoc in Lebanon

Asian Games 2023: PM Modi congratulated India on its 'century' in the Asian Games, and will meet the players on October 10

India's excellent performance continues in the ongoing Asian Games 2023 in Hangzhou, China. India

Paris Olympics: Former players expect good performance from India in Olympics, said- preparations should continue

There are 13 days left for the start of the Paris Olympics. Former players who have participated

'He did not let me go...', what did Kiccha Sudeep's daughter say about Salman Khan? The statement is going viral.

Sanvi Sudeep, daughter of well-known South actor Kiccha Sudeep, is in the news these days. Recent

Haryana: Orders issued to open schools from 10th to 12th from February 1, parents' permission required

In Haryana, an order has been issued by the Education Department to open schools for the students

Pager Blast: Kerala connection found in pager blast in Lebanon! Did Israel make a deal with the man from Wayanad?

Serial pager blasts in several cities of Lebanon have created a sensation. 20 people died in the

India evacuated Pakistani student from Ukraine: Asma, who got help, said – was in a lot of trouble, thanks to Modi Ji

During the Russo-Ukraine war, the Government of India launched Operation Ganga to evacuate 20 tho

RBSE 12th Result: Daughters dominate Rajasthan Board 12th Science-Commerce Result, know pass percentage

RBSE 12th Science Commerce Result 2022: The Rajasthan Board of Secondary Education (RBSE) has rel

Delhi Traffic Advisory: Heavy rain in Delhi overnight, read the advisory before going to the office; avoid these routes

Due to heavy rains in the capital Delhi on Wednesday evening, the roads were submerged and there

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