Air India likely to be handed over to Tata group by weekend
The Hindu
The Tata group will also be handed over Air India Express and a 50% stake in ground handling arm Air India SATS
Air India is likely to be handed over to the Tata group by the end of this week, senior government officials said on January 24.
After a competitive bidding process, the government had on October 8, 2021 sold Air India to Talace Private Limited — a subsidiary of the Tata group's holding company — for ₹18,000 crore.
Following that, on October 11, 2021 a Letter of Intent (LoI) was issued to the Tata group confirming the government's willingness to sell its 100% stake in the airline. On October 25, 2021 the Centre signed the share purchase agreement (SPA) for this deal.
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