Air India officially returns to Tata Sons after 69 years
The Tata Group is expected to take full control of the airline, it founded in 1932. The cash component of the deal would come once the handover process is completed. 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. Tata Group will appoint a new board for Air India today and is expected to announce the merger of Air India Express with Air Asia India within the next week.
Tata Group officially takes over Air India on January 27. "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). This marks 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.
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Tata group chairman N Chandradekaran meets Prime Minister Narendra Modi ahead of Air India’s formal handover to the conglomerate on January 27. The government had on October 8 last year sold Air India to Talace Private Limited - a subsidiary of the Tata Group's holding company - for Rs 18,000 crore following a competitive bidding process. (Image: Twitter @PMOIndia)
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Air India CMD greets Tata Sons Chairman N Chandrasekaran to complete formal handover of Air India to the conglomerate. The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline’s takeover by the Tata Group.
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The Tata Group takes full control of the airline, it founded in 1932. The cash component of the deal would come once the handover process is completed. 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. Tata Group will appoint a new board for Air India today and is expected to announce the merger of Air India Express with Air Asia India within the next week.
![Tata Group officially takes over Air India on January 27. "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). This marks 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.](https://images.moneycontrol.com/static-mcnews/2021/10/Air-India-2.jpg "Tata Group officially takes over Air India on January 27. "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). This marks 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.")
