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Tata takes over Air India Highlights | "The formalities have been completed. The Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India," said Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM).
The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore.
The
The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline’s debt. The deal also includes sale of Air India Express and ground handling arm AISATS.
The transaction was to be completed by December 2021, but the deadline was later extended till January 2022, owing to longer-than-expected time taken to complete procedural work.
This will mark the return of Air India to the Tata fold after 67 years. The Tata Group had founded Air India as Tata Airlines in October 1932. The government nationalised the airline in 1953.
Golden age of Air India lies ahead, Tata Sons chairman in letter to airline's employees
Air India's non-core asset monetisation plan will be prepared, can't give a timeline: DIPAM Secretary
Quite relieved that Air India transaction stands closed
New board takes charge of Air India
Divestment of Air India a truly defining moment: Aviation Secretary
Air India takeover complete: Tata Sons chairman
Tata Sons Chairman N Chandrasekaran meets PM Nerandra Modi
Tatas to focus on improving Air India On-Time-Performance
Tata Sons Chairman N Chandrasekaran meets PM Nerandra Modi
Air India CMD greets Tata Sons Chairman N Chandrasekaran
Former Aviation secretary Pradeep Singh Kharola arrives at Airlines House in Delhi
DIPAM Secretary Tuhin Kanta Pandey arrives at Air India HQ Airlines House in Delhi
Tata Sons chairman N Chandrasekaran arrives at Air India headquarters
Pilots want October 15 declared National Aviation Day to honour JRD Tata's first flight
Tatas gets loan commitment from SBI-led consortium for Air India
Tata Group officials to meet Air India, Finance Ministry and Civil Aviation Ministry officials at 2:30 pm
Captain Gopinath: Why are the Tatas so crazy about Air India?
Govt notifies Air India asset transfer agreement with AIAHL; stage set for Air India handover to Tata Group
Tata Group will be the king of Delhi after Air India win
Tata Group's blueprint to revamp Air India
First challenge for Tata after Air India take-over: Schedule integration across 4 airlines
The Tatas should be as resolute running Air India as the government was in selling it
Can the combined Tata power take on IndiGo?
Sure, Air India has losses, but its long list of assets is impressive too
Air India Express-Air Asia India merger will likely to take place next week, according to the CNBC-TV18
Air India to conduct pre-flight checks of cabin crew's grooming, BMI; staff term order 'dehumanising'
Tata Sons Chairman N Chandrasekaran meets PM Modi today ahead of Air India handover
Air India to be officially handed over to Tata Group today, Chairman N Chandrasekaran in Delhi
Air India under Tatas could be ‘big game-changer’ for Indian aviation
Govt appoints Vikram Dev Dutt as Chairman, MD of Air India Limited
Tata Sons Chairman N Chandra to meet PM Modi shortly; meeting ahead of the Govt handover of Air India
Air India disinvestment to take place today
'JRD Tata would've been overjoyed': Ratan Tata's emotional note on Tatas winning Air India bid
Tatas take first step in Air India, to introduce enhanced meal service' in 4 flights today
Senior VP Nipun Aggarwal, CFO Saurabh Agrawal, group Corporate Secy Suprakash Mukhopadhyay may join A-I board
Air India board directors will step down, and executives of Tata group will take charge of the airline
Government sold Air India to Talace Private Limited - a subsidiary of the Tata Group on October 8
Tata Group likely to take over Air India today
The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.
Tata takes over Air India LIVE Updates | Tata to focus on bringing down operational costs
Tata Sons Chairman N Chandrasekaran after taking over Air India from the government said that he was delighted that Air India’s takeover process is complete. He added the group will focus on bringing down operational costs of Air India and improving the performance of the airline in their bid towards creating a world-class airline. Read full report.
Tata takes over Air India LIVE Updates | Tata Sons Chairman N Chandrasekaran meets Finance Minister Nirmala Sitharaman shortly after the take over of Air India was formally completed.
Read full text of Tata Sons Chairman N Chandrasekaran's letter to Air India employees
I like many others, have enjoyed reflecting on stories from the airline's brilliant past. My first
flight was with Air India in December 1986, and I will never forget how special it felt to be
onboard, or the exhilaration as we soared into the sky.
Such memories are wonderful, but now is the time to look ahead. Today is the beginning of a
new chapter. The entire nation’s eyes are on us, waiting to see what we will achieve together.
To build the airline our country needs, we need to look to the future.
I write this letter on behalf of the Tata Group, to welcome you to our family. Our Group has its
own storied past. I have learned that to preserve what is best about the past, requires
constant change. It is by evolving, adapting and embracing the future that we best honour a
glorious history.
I am convinced that the golden age of Air India lies ahead. Our journey towards it starts now.
Welcome. And welcome back.
Warmest regards,
Chandra
Tata takes over Air India LIVE Updates | Golden age of Air India lies ahead, Tata Sons chairman in letter to airline's employees
"I am convinced that the golden age of Air India lies ahead. Our journey towards it starts now. Welcome. And welcome back," Tata Sons Chairman N Chandrasekaran said in a letter to the Air India employees.
Tata takes over Air India LIVE Updates | Air India's non-core asset monetisation plan will be prepared, can't give a timeline: DIPAM Secretary
A plan for the monetisation of Air India's non-core assets is being prepared, DIPAM Secretary TK Pandey said. "At this moment, while settling such a complex transaction, can’t give a timeline for monetisation of non core assets," he added.
Tata takes over Air India LIVE Updates | Four existing directors continue on Air India board: DIPAM Secretary
Four existing directors of Air India will continue to remain part of the airline's rejigged board, following the takeover by Tatas, DIPAM Secretary said.
Tata takes over Air India LIVE Updates | Dewas was one of the legal challenges for Air India deal: DIPAM Secretary
DIPAM Secretary TK Pandey told Moneycontrol that Dewas was "one of the legal challenges for the Air India deal".
Tata takes over Air India LIVE Updates | "I feel very relieved today. It has been a roller coaster ride with legal challenges," Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM), said in an exclusive conversation with Moneycontrol.
