Air India to be handed over to Tata Group tomorrow
The central government is set to hand over Air India to the Tata Group tomorrow, January 27, ANI has quoted senior government officials as saying. Transferring months after the sale has been confirmed will end the disinvestment process. Air India’s financial director Vinod Hejmadi has sent an email to the employees that the disinvestment of Air India has now been fixed on January 27, 2022. The closing balance sheet for January 20 is to be provided on January 24 so that it can be reviewed by Tata and changes, if any, will be made with effect from Wednesday.
The Tata group had on 8 October 2021 re-acquired Air India from the government for Rs 18,000 crore after a competitive bidding process. Thereafter, a letter of intent (LoI) was issued to the Tata group on October 11, confirming the government’s desire to sell its 100 per cent stake in the airline.
