Friday, May 27, 2022

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Air India officially handed over to Tata Sons

Air India has been officially handed over to the Tata Sons today. Civil Aviation Minister Jyotiraditya Scindia said, it is indeed noteworthy that the disinvestment process of Air India has been brought to a successful conclusion in a time-bound manner. He said, this proves the Government’s ability and the resolve to carry out disinvestment effectively in non-strategic sectors in the future.

Mr. Scindia extended his best wishes to the new owner saying that he is confident that the airline will bloom under Tata Sons’ wings, and pave the way for a thriving and robust civil aviation industry in India.

Department of Investment and Public Asset Management Secretary Tuhin Kant Pandey said that the strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to Talace Private Limited along with management control. He said a new Board, led by the Strategic Partner, took charge of Air India.

Talace is a wholly owned subsidiary of Tata Sons. In October last year, the Government approved Air India disinvestment.

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