Tata Group all set to take over Air India today; N Chandrasekaran in Delhi to complete the process

Air India is all set to be officially handed over to Tata Group today. And to complete the transfer process Tata Group Chairman N Chandrasekaran is present in New Delhi, as reported by the news agency ANI. An official announcement will also be made in this regard today. A senior government official said, “Officially Air India hands over to Tata Group today in the afternoon. Tata Group Chairman N Chandrasekaran will be in the ministries for the official handover process.”

Air India operates around 101 destinations including 57 domestic operations including 33 countries on four continents around the world, as per available data. Aviation experts say that Air India is carrying a substantial number of the latest aircraft in its fleet from both Airbus and Boeing which is Air India’s strength. Director Finance, Air India, Vinod Hejmadi had sent an email to airline employees that read, “Air India disinvestment has been decided to take place on January 27, 2022.  The closing balance sheet on Jan 20 is to be provided today, January 24 so that it can be reviewed by Tata and any changes can be made on Wednesday.”

It is worth mentioning here that Tata had on October 8 beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 percent stake in the loss-making carrier. This will be the Centre’s first privatisation since 2003-04.

Also Read: Special Doodle: Amul lauds ‘Tata’s Good Buy’ as Air India returns to Tatas after 68 years

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