Air India handed over to Tata Group
New Delhi Jan 27 PTI The government officially handed over Air India to the Tata Group on Thursday nearly 69 years after it was taken from the Mumbai-based conglomerateThe handover took place at the airlines headquarters here this afternoonTata Sons chairman N Chandrasekharan said the group is very happy to have Air India back in its foldDepartment of Investment and Public Asset Management DIPAM Secretary Tuhin Kanta Pandey told reporters that Air India has been handed over to Talace Private Limited — a subsidiary of the Tata Groups holding company — which is the successful bidderNow the new owners of the airline are Talace Pandey notedThe complete payment of Rs 2700 crore has been received by the government and it has transferred the shares he saidThe entire debt of Rs 15300 crore has also been accepted by the Tatas All the processes are complete he addedPandey said the new board is holding a meeting nowSo we have handed over the airline to them As we speak they Tata Sons are the new owners he saidAfter a competitive bidding process the government had on October 8 last year sold Air India to Talace Private Limited for Rs 18000 croreSpeaking to reporters here Chandrasekharan said We are totally delighted that the takeover process of Air India is complete We are very happy to have Air India back in the Tata Group We look forward to working with everyone to create a world-class airline he addedAir India was started by the Tata Group in 1932 However after the country got independence the airline was nationalised in 1953 by the then prime minister Jawaharlal Nehru PTI DSP DIV DIV
New Delhi Jan 27 PTI The government officially handed over Air India to the Tata Group on Thursday nearly 69 years after it was taken from the Mumbai-based conglomerateThe handover took place at the airlines headquarters here this afternoonTata Sons chairman N Chandrasekharan said the group is very happy to have Air India back in its foldDepartment of Investment and Public Asset Management DIPAM Secretary Tuhin Kanta Pandey told reporters that Air India has been handed over to Talace Private Limited — a subsidiary of the Tata Groups holding company — which is the successful bidderNow the new owners of the airline are Talace Pandey notedThe complete payment of Rs 2700 crore has been received by the government and it has transferred the shares he saidThe entire debt of Rs 15300 crore has also been accepted by the Tatas All the processes are complete he addedPandey said the new board is holding a meeting nowSo we have handed over the airline to them As we speak they Tata Sons are the new owners he saidAfter a competitive bidding process the government had on October 8 last year sold Air India to Talace Private Limited for Rs 18000 croreSpeaking to reporters here Chandrasekharan said We are totally delighted that the takeover process of Air India is complete We are very happy to have Air India back in the Tata Group We look forward to working with everyone to create a world-class airline he addedAir India was started by the Tata Group in 1932 However after the country got independence the airline was nationalised in 1953 by the then prime minister Jawaharlal Nehru PTI DSP DIV DIV
