Govt issues letter of intent confirming sale of Air India to Tata Group

On Monday, the government issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to the Tata Group for Rs 18,000 crore, a senior official said.

The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said.

Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt.