Mumbai Jan 27 PTI Full-service carrier Air India under its new owner Tata Group on Thursday it was looking forward to soaring high propelled by the rich legacy of the two iconic brands and their shared mission to serve the country Brand new chapter unfolds for Air India as part of the Tata Group Two iconic names come together to embark on a voyage of excellence the airline tweeted from its official handle Looking forward to soaring high propelled by our rich legacy and shared mission to serve our nation Welcome aboard TataCompaies it added Earlier on Thursday the salt-to-software conglomerate took over Air India along with its low-cost international budget arm Air India Express and ground handling and cargo handling services unit AISATS and vowed to turn around the loss-making airline which was founded by the Tata Group but later went under government control in 1953 We are excited to have Air India back in the Tata group and are committed to making this a world-class airline I warmly welcome all the employees of Air India Air India Express and AISATS to our Group and look forward to working together Tata Sons Chairman N Chandrasekaran said in a statement soon after the airline was transferred to the group Talace Private Limited -- a subsidiary of the Tata Groups holding company Tata Sons -- on October 8 2021 won the bid to acquire debt-ridden Air India Tatas offered Rs 18000 crore as part of the winning bid -- Rs 15300 crore for Air Indias existing debt and Rs 2700 crore to be paid as cash to the government On October 11 2021 a Letter of Intent LoI was issued to the Tata Group confirming the governments willingness to sell its 100 per cent stake in the airline On October 25 the government signed the share purchase agreement for the deal PTI IAS ABM ABM

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

Mumbai Nov 24 PTI In a bid to end the near-month-long strike of MSRTC employees Maharashtra Transport Minister Anil Parab on Wednesday announced a salary hikeAlso salaries would be paid before the 10th day of every month he assuredThe average Rs 2500 to Rs 5000 hike in basic salaries would be the highest in the history of the Maharashtra State Road Transport Corporation the state-run bus service he said appealing employees to call off the agitationParab made the announcement on Wednesday evening after a prolonged meeting with a delegation of MSRTC employees hereThe hike will put additional monthly burden of Rs 60 crore and annual burden Rs 750 crore on the state government he saidBJP leaders Sadabhau Khot and Gopichand Padalkar who have been leading the agitation and who took part in the talks with Parab said they will announce their stand on the strike on ThursdayThe employees main demand is merger of the cash-strapped corporation with the state government The strike started on October 28 and intensified from November 9 when all depots of MSRTC shut downParab also had a discussion with Maharashtra Chief Minister Uddhav Thackeray at HN Reliance hospital where the chief minister is recovering after a medical procedure and deputy chief minister Ajit Pawar who also holds finance portfolio sources saidSpeaking to reporters later Parab claimed that dearness allowance and house rent allowance of MSRTC employees were already on par with those of state employeesNow the government has decided to hike the basic salary of the employees who are in service for one to ten years by Rs 5000 he said The basic salary in this category will go up to Rs 17395 from Rs 12080 per month he addedThe employees in this bracket were getting very low salary so their pay was increased nearly 41 per cent the minister saidAs per my information its the highest-ever hike in the MSRTC history he addedThe salary of those who are in service for 10 to 20 years was increased by Rs 4000 so their basic salary will increase to Rs 23040 from Rs 16000The basic salary was hiked by Rs 2500 for employees who have completed service of 20 years and more Parab addedThe state government had given Rs 2700 crore to the MSRTC for paying salaries as the corporation was making losses due to COVID-19 pandemic he saidThe government has now also made a commitment to pay salaries before the tenth day of every month against the backdrop of suicides of some employees due to delayed salaries he saidSuspension of employees would be revoked if they rejoin duty by Friday the minister assuredThe daily wage workers whose services were terminated too will get their jobs back if they rejoin he saidSources said despite the salary hike many employees are still not ready to back down on the demand of merger PTI KK KRK KRK KRK