Tata takes over Air India LIVE Updates |”We are very happy to have Air India back in the Tata group. We look forward to working with everyone in creating a world class airline,” Tata Sons Chairman N Chandrasekaran said.
Tata takes over Air India LIVE Updates | “The formalities have been completed. The Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India,” said Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM).
The government had in October last year, inked the share purchase
JANUARY 27, 2022 / 04:12 PM IST
Statement issued by Tata Sons on completion of Air India’s takeover
The Tata Group takes over management and control of the airline, starting today.
The transaction covers three entities – Air India, Air India Express and AI SATS. Air India is India’s flag carrier and premier full-service airline. Air India Express is a low-cost carrier. AI SATS provides a comprehensive suite of ground handling and cargo handling services.
On this occasion, Mr. N. Chandrasekaran, Chairman, Tata Sons Pvt. Ltd. said – “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, to our Group, and look forward to working together.”
Mr. Ratan N. Tata joined Mr. N Chandrasekaran in expressing his thankful recognition to the Government of India and its various departments for the successful completion of this important transaction.
The Tata Group would like to acknowledge Prime Minister Shri Narendra Modi’s commitment to reforms and faith in India’s entrepreneurship spirit, which made this historic transition possible. Our Prime Minister has in action demonstrated what his commitment to ‘Minimum Government, Maximum Governance’ means.
We philosophically agree with the Prime Minister’s vision for the aviation sector, of making it affordable and ensuring it contributes to boosting ‘Ease of Living’ for citizens.
JANUARY 27, 2022 / 03:58 PM IST
New board takes charge of Air India## Tata takes over Air India LIVE Updates | New board takes charge of the airline
JANUARY 27, 2022 / 03:57 PM IST
Tata takes over Air India LIVE Updates | Air India finally reclaimed by Tata group
After a disinvestment plan that stretched for several decades, the government was able to finalise the Tata group, whose late patriarch JRD Tata had founded the airline, as the company which would be sold the ‘Maharaja’. Tatas had won the bidding process in October, with a Rs 18,000 crore bid, which was well above the reserve price set by the government. In around a three-month period, the remaining formalities to offload its controlling stake in the national carrier were completed by the Centre.
JANUARY 27, 2022 / 03:50 PM IST
Tata takes over Air India LIVE Updates | Divestment of Air India a truly defining moment: Aviation Secretary
“Divestment of Air India is a truly defining moment that will usher in a brighter future for the employees,” Aviation Secretary Pradeep Singh Kharola said. “Air India divestment will help airline to expand its wings and soar to greater heights, is a shot in the arm for domestic airlines, will add muscle to Indian aviation sector,” he added.
JANUARY 27, 2022 / 03:48 PM IST
Tata takes over Air India LIVE Updates | “We are very happy to have Air India back in the Tata group. We look forward to working with everyone in creating a world class airline,” Tata Sons Chairman N Chandrasekaran said.
JANUARY 27, 2022 / 03:46 PM IST
Tata takes over Air India LIVE Updates | ‘Air India disinvestment process closed, formalities completed’, announces DIPAM Secretary
“The formalities have been completed. The Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India,” said Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM).
JANUARY 27, 2022 / 03:42 PM IST
Tata takes over Air India LIVE Updates | Air India takeover complete: Tata Sons chairman
The takeover of Air India by Tata Group has been formally completed, said N Chandrasekaran, the chairman of Tata Sons which is the controlling entity of the conglomerate.
JANUARY 27, 2022 / 03:39 PM IST
Tata takes over Air India LIVE Updates | With the takeover of Air India, Tata could control around 26.7 percent of the country’s aviation market share. It already has an 84 percent stake in Air Asia, which has a 5.2 percent market share. In Vistara, which holds 8.3 percent market share, Tata has a stake of 51 percent.
JANUARY 27, 2022 / 03:37 PM IST
Tata Sons chairman N Chandrasekaran calls on PM Narendra Modi
Tata Sons chairman N Chandrasekaran called on Prime Minister Narendra Modi on Thursday ahead of the official handover of Air India to the Tata Group. Later, Chandrasekaran also visited the Air India headquarters.
“Shri N Chandrasekaran, the Chairman of Tata Sons called on PM @narendramodi,” the Prime Minister’s Office tweeted, along with a photograph of the meeting. After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited, a subsidiary of the Tata Group’s holding company, for Rs 18,000 crore.
Air 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.
JANUARY 27, 2022 / 03:10 PM IST
Tata takes over Air India LIVE Updates | Tatas to focus on improving Air India On-Time-Performance
JANUARY 27, 2022 / 02:49 PM IST
Tata takes over Air India LIVE Updates | Tata Sons Chairman N Chandrasekaran meets PM Nerandra Modi
JANUARY 27, 2022 / 02:31 PM IST
Tata takes over Air India LIVE Updates | Air India CMD greets Tata Sons Chairman N Chandrasekaran
