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

PM Narendra Modi Autograph: Kareena Kapoor-Saif Ali Khan met PM Narendra Modi, took autographs for sons Taimur and Jeh

December 14 is the 100th birth anniversary of showman Raj Kapoor. On this occasion, the Kapoor fa

Preparing to lay off 10,000 employees in Amazon: Decision taken due to losses; Robot replacing humans in the company

E-commerce sector giant Amazon can lay off about 10,000 people. According to the New York Times r

'₹2500 is a lie': 'Holi has arrived, when will the free cylinder come', AAP protested against BJP's promise.

Aam Aadmi Party (AAP) is continuously cornering the BJP government of Delhi over giving free cyli

Pushpa 2: Aamir Khan was impressed with Pushparaj's acting, and couldn't stop praising him, Allu Arjun expressed his gratitude

Allu Arjun's 'Pushpa 2' has been a blockbuster at the box office despite all the controversies. O

Covid-19: How is the situation in the country due to Corona now? Is the infection still increasing? Know everything in detail here.

Many countries of the world including India have seen a rapid increase in cases of infection due

IND vs AUS: Pat Cummins said - We have a special plan for Rohit and Virat, Shami will have to be avoided

The final match of ODI World Cup 2023 is to be held between India and Australia. Both teams are f

Ukraine said - Russia's ceasefire is a well-thought-out move: Zelensky's close friend said - this is just propaganda and duplicity

Russian President Vladimir Putin announced on Thursday night that his army will not attack Ukrain

Ukraine Crisis: US announces $400 million military aid for Ukraine; Blinken encircles Russia

America has once again extended a hand to help Ukraine. $ 400 million in military aid has been an

America's oil game is behind Russia and Ukraine, know what is the whole matter and expert's opinion on it

The dispute that broke out between Russia and Ukraine, where Crimea has been formed on one side a

Bigg Boss 19: Malti Chahar slaps Tanya Mittal, causing another uproar in the Bigg Boss house.

The grand finale of Bigg Boss Season 19 will take place in two weeks, with one contestant receivi