Tata group to take over Air India by this weekend
AVIATION & AIRPORTS

Tata group to take over Air India by this weekend

On Monday, senior government authorities told the media that Air India is likely to be handed over to the Tata group by this weekend.

On October 8, 2020, after a competitive bidding process, the government had sold Air India to Talace Private Limited, a subsidiary of the Tata group's holding firm for Rs 18,000 crore. Following that, on October 11, a Letter of Intent (LoI) was released to the Tata group guaranteeing the government's willingness to sell its 100% share in the airline.

On October 25, the government inked the share purchase agreement (SPA) for this contract. On Monday, officials told the media that the remaining formalities concerning this agreement are likely to be done in the coming few days and the airline will be given to the Tata group by the end of this week. As a part of the transaction, the Tata group will additionally be given Air India Express and a 50% share in the ground handling arm Air India SATS.

On October 8, Tatas had beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve cost of Rs 12,906 crore set by the government for the sale of its 100% share in the loss-making carrier.

While this will be the first privatisation since 2003-04, Air India will be the third airline brand in the Tatas' stable; it owns a majority interest in AirAsia India and Vistara, a joint enterprise with Singapore Airlines Ltd. The disinvestment of Air India is determined to be on January 27, 2022. The closing balance sheet as of January 20 has to be rendered on January 24 so that it can be checked by Tatas and any changes can be impacted on Wednesday, as per Vinod Hejmadi, Director Finance, Air India.

Image Source

Also read: Air India returns to Tata Sons

On Monday, senior government authorities told the media that Air India is likely to be handed over to the Tata group by this weekend. On October 8, 2020, after a competitive bidding process, the government had sold Air India to Talace Private Limited, a subsidiary of the Tata group's holding firm for Rs 18,000 crore. Following that, on October 11, a Letter of Intent (LoI) was released to the Tata group guaranteeing the government's willingness to sell its 100% share in the airline. On October 25, the government inked the share purchase agreement (SPA) for this contract. On Monday, officials told the media that the remaining formalities concerning this agreement are likely to be done in the coming few days and the airline will be given to the Tata group by the end of this week. As a part of the transaction, the Tata group will additionally be given Air India Express and a 50% share in the ground handling arm Air India SATS. On October 8, Tatas had beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve cost of Rs 12,906 crore set by the government for the sale of its 100% share in the loss-making carrier. While this will be the first privatisation since 2003-04, Air India will be the third airline brand in the Tatas' stable; it owns a majority interest in AirAsia India and Vistara, a joint enterprise with Singapore Airlines Ltd. The disinvestment of Air India is determined to be on January 27, 2022. The closing balance sheet as of January 20 has to be rendered on January 24 so that it can be checked by Tatas and any changes can be impacted on Wednesday, as per Vinod Hejmadi, Director Finance, Air India. Image Source Also read: Air India returns to Tata Sons

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?