Air India succeeds in handing over to Tata Group

Air India succeeds in handing over to Tata Group

The Government of India handed over Air India to the Tata Group on January 27, 2022, almost 69 years after Air India was acquired by TATA. According to the officials, the airline was handed over to the conglomerate as all the formalities were close to completion.

Tata Corporation, as part of the agreement with the government, also received Air India Express and a 50% stake in the ground handling arm of Air India SATS. Although this is the first privatization by the Indian government, Air India will be the third airline brand in Tata, which holds majority stakes in AirAsia India and Vistara. It is a joint venture of Singapore Airlines Ltd.Delhi

Tata Group Chairman Witnesses Official Transfer

Tata Group Chairman N. Chandrashekar is in New Delhi to witness the official transfer of Air India to Tata Group. He belongs to the ministry for the formal delivery process. A formal announcement from the Tata Group regarding the formal delivery process will also be made on January 27th.

About Air India

Maharaja is the official mascot of Air India. The airlines operate globally apart from domestic operations. As per the available data in 2020, Air India operates around 101 destinations including 57 domestic operations. It also includes 33 countries on four continents around the world. Air India has also been carrying a substantial number of the latest aircraft in its fleet from both Airbus and Boeing which is also Air India’s strength.

Tata Group acquires 100% stake in Air India On October 8, 2021, the Tata Group emerged as the winning bidder from the sale process of the state-owned airline Air India. A consortium led by SpiceJet promoter Ajay Singh has bid 15,100 crores, with a minimum price of 12,906 crores set by the Government of India to sell 100% stake in deficit airlines.

Air India's Chief Financial Officer recently notified employees by email that the sale of Air India was decided on January 27, 2022. The January 20th closing balance sheet will be submitted on January 24th for review by Tata.