New Delhi: As per the latest news on Mirror Now, after 69 years Air India is returned to it’s founder the Tata Group. Except for that mandatory NOC, all the paper work has been completed.
Earlier today, Tata Sons chairman N Chandrasekaran met Prime Minister Narendra Modi in the national capital before formal takeover of Air India.
Talace Pvt Ltd, a wholly owned subsidiary of Tata Sons Pvt Ltd, won the bid to acquire 100 per cent equity shareholding in Air India.
Tuhin Kant Pandey, secretary, department of investment & public asset management (Dipam) said that the process of Air India disinvestment is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India.
Aviation minister Scindia said, “I am confident that the airline will bloom under their wings, and pave the way for a thriving & robust civil aviation industry in India.”
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, formally took over the airline on Thursday.
With the acquisition, Tata Group has access to a fleet of 117 wide-body and narrow-body aircraft, and 24 narrow-body aircraft of Air India Express.
With this it has got control of 4,400 domestic and 1,800 international landings and parking slots.
Tata Sons chairman N Chandrasekaran, has said that, “Totally delighted that Air India’s takeover process is complete. We are looking forward to create a world class airlines, by working with everyone.”
Taking to the twitter, the Airline said, “#FlyAI : Air India Limited, Air India Express & AISATS (AI stake) have become part of the Tata Group today. Senior Officials of @TataCompanies, @SecyDIPAM and @MoCA_GoI met at Airlines House New Delhi.”
Further Tata Group thanks Prime Minister Narendra Modi and says, “The Tata Group would like to acknowledge Prime Minister Narendra Modi’s commitment to reforms and faith in India’s entrepreneurship spirit which made the transition possible, the company said in an official release. Our Prime Minister has in action demonstrated what his commitment to ‘minimum govt, maximum governance’ means.”
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