Air India likely to be handed over to Tata Group today
By Sanjay Maurya
On 27th January, Air India will be officially handed over to Tata Group after a 69-year journey. According to reports, Tata Group Chairman N Chandrasekhar is in Delhi to witness the formal handover. Today in the afternoon, Air India officially handed over to Tata Group. For the official transfer procedure, Tata Group Chairman N Chandrasekaran will be in the ministries, a senior government official said.
| Tata Group | Air India |
| Owner: Tata Sons | Founder: J. R. D. Tata |
| Founder: Jamsetji Tata | Founded: 1932 |
| Founded: 1868, Mumbai | Headquarters: New Delhi |
| Headquarters: Mumbai | Parent organization: Air India Limited |
| Subsidiaries: Tata Motors, Tata Steel Ltd, MORE | Subsidiaries: Alliance Air, Airline Allied Services |
| Parent organization: Tata Sons | Destinations: 102 |
The transfer will take place on Thursday, and the process of transferring the airline will begin,” according to reports. “The entire handover may take some time. The government sold Air India to Talace Private Limited, a subsidiary of the Tata Group’s holding company, for INR 18,000 crore on October 8, last year, after a competitive bidding process – about INR 2,700 crore will be paid to the government, and the rest will be Air India loans that the new entity will take. The Tata Group will make a public announcement about the official transfer procedure today.
Maharaja is the official mascot of Air India, which operates both domestically and internationally. Air India operates roughly 101 destinations comprising 57 domestic operations encompassing 33 countries on four continents across the world, according to available statistics in 2020.
According to aviation analysts, Air India’s strength is that it has a large number of new aircraft in its fleet from both Airbus and Boeing.
Air India has a codeshare agreement with Star Alliance and operates 172 wide and narrow-body aircraft, including domestic flights, under the Air India Express brand.
Air India disinvestment has been determined to take effect on January 27, 2022, stated Vinod Hejmadi, Director Finance, in an email to workers. The closing balance sheet on Jan 20 is to be provided today, January 24, so Tata may examine it and make any necessary modifications on Wednesday.
It went on to say that the next three days will be intense, and that airline staff should give it their all before the company is divested. We may have to work late at night to finish the task assigned to us, the letter said, requesting staff’s cooperation.
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