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

Dengue In Pakistan: After the floods in Pakistan, now the havoc of dengue, nine people died; Large number of cases in Sindh-Karachi

Dengue In Pakistan After the severe floods in Pakistan, there has been a tremendous increase in t

5 reasons why Punjab Kings were out of the playoffs: Mayank's flop show, expensive players did not play

PBKS was touted as one of the balance teams of this season. Fans were sure that the trophy drough

Taiwan bluntly to China: Defense Minister said: If Chinese aircraft enter the border, now they will answer

Taiwan seems to be taking a tough stand on the increasing infiltration of China at its border. Ta

Parliament Security Breach: From daily wage laborers to MPhil, know who are the accused of creating a nuisance inside and outside the Parliament

A major incident of security breach came to light on Wednesday, the anniversary of the terrorist

Firing in US park for the second time in 4 days: 2 killed in Los Angeles; 2 people including a 6-year-old girl were killed in Iowa

In the US, there was a shooting in the city of San Pedro near Los Angeles. A police officer said

Weather Update: Heat wave alert issued in these states including Delhi, read today's weather condition

Most of the states of North India are in the grip of severe heat and heatwave. The first week of

Poonam Pandey: Will action be taken against Poonam for creating a death drama? Demand for FIR on charges of spreading fake news

The news of actress Poonam Pandey's demise has shocked everyone. Last Friday, his manager had giv

Kallakuruchi poisonous liquor tragedy: AIADMK MLA sits on hunger strike, demands CBI inquiry from Stalin government

Unnat DMK leaders in Tamil Nadu condemned the state government DMK over the Kallakuruchi poisonou

50% of people in America are addicted to sugar-fat: this leads to unbalanced hormones in the brain, the risk of memory loss

More than half of the population in America has become addicted to eating ultra-processed food. T

Economy: China raised the world's concern by reducing the interest rate, but for the time being the dollar benefits

At present, the US currency dollar is getting the direct benefit of the increasing economic diffi