After a long wait, once again the command of Air India has been handed over to Tata’s hands. Tata had made a bid of around Rs 18,000 for Air India. Addressing the media, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said that Tata Sons’ Tales Private Limited had bid for Rs 18,000 crore. Has won. Tuhin Kant Pandey said the transaction is expected to close by the end of December 2021.
Talace Pvt Ltd of Tata Sons is the winning bidder at Rs 18,000 crores. The transaction is expected to close by the end of December 2021, says Tuhin Kant Pandey, Secretary, DIPAM pic.twitter.com/SvSKj3pVNw
— ANI (@ANI) October 8, 2021
What will Tata get: According to the terms of the government, the successful bidder i.e. Tata will get 100 percent control of Air India as well as the subsidiary Air India Express. At the same time, 50 percent stake will be captured in AISATS. Let us tell you here that AISATS provides cargo and ground level services at major Indian airports. As per the disinvestment norms, Tata will be allowed to land 4,400 domestic and 1,800 international flights at Air India’s domestic airports. At the same time, control of parking allotments will be given.
After nearly 70 years, again with Tata: The state-owned airline Air India has gone to its old owner, the Tata Group, after nearly 70 years. Actually, this airline was established in 1932 by Jehangir Ratanji Dadabhai (JRD) Tata. Then it was called Tata Airline. However, Air India was nationalized in 1953. Thereafter, the company was 100 percent owned by the government. However, due to increasing debt burden, the government started trying to sell stake in Air India for the first time in 2017.
This time the government wanted to sell 75 per cent stake. However, this was not possible. After this, all the concessions were given in the rules of disinvestment and the government agreed to sell its complete ownership. Those interested in bidding for Air India were given multiple deadlines to submit applications. The last deadline was September 15. Till this day, Tata Sons and SpiceJet have mainly shown interest in buying Air India. Now the command of Air India has gone to Tata Sons of Tata Group.
Tata’s flight in the sky: With this, the dominance of Tata Group has increased in the sky. Two other Tata Group-owned companies Vistara and Air Asia are also active in the aviation sector. Now the Tata group has a total of three companies that have an airline.