Air India Owner: After 69 times, the former govt- possessed public carrier Air India, starting January 27, 2022, has now gone back to its original possessors, the Tata Group. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey informed of a successful conclusion of the strategic disinvestment sale of Air India to Talace Pvt Ltd, an attachment of Tata Group, on Jan 27, 2022. Ratan Tata airlines. About Tata Group. Who Owned Air India Before Tata? Who is the Owner of Air India?
The Secretary informed that a new Board would be formed to take charge of Air India, led by the Strategic Partner.
Air India Successfully Vended to the Tatas on Jan 27
- In Oct 2021, public carrier Air India was vended to Talace Pvt Ltd by the Govt of India for an aggregate of Rs crore.
- With this, all formalities related to the Air India disinvestment sale have now been closed.
Ahead of the sanctioned handover of the public carrier, Tata Sons Chairman N Chandrasekaran informed meeting PM Modi.
” We’ve transferred shares.
- Entire Rs crore of debt which was to be retained has also been accepted. So all processes are completed”, added the DIPAM Secretary.
Union Minister Jyotiraditya Scindia stressed the time-bound conclusion of the disinvestment process of Air India, indicating the govt’s capability and resolve to carry out disinvestment effectively in non-strategic sectors in the future.
Air India to the Tatas
Complete Overview of the Disinvestment Process of Air India to the TatasAfter dealing the public carrier to Palace, a Letter of Intent was issued to confirm that the government was willing to vend 100 of its stake in the airline to the Tata Group, following which the Centre inked the share purchase agreement.
Tata Group is now in control of 3 major airline brands operating in the country, as it holds a maturity interest in AirAsia India and Vistara. Air India would be its third airline brand and India’s first successful privatization since 2003-04. While it holds 100 stakes in Air India, the Tata Group won’t get to retain-core means, like the Air India Building at Nariman Point or at Delhi, among others, and it’ll hold 50 stakes in ground handling arm Air India SATS.
After 69 times, Tata Group will officially drink Air India.
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