Air India Handed Over To Tata Group

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New Delhi: The Indian government on Thursday officially handed over Air India to the Tata group, nearly 69 years after it was taken from the conglomerate.

The Tata Group now takes full control of the iconic ‘Maharaja’.

” The strategic disinvestment transaction of Air India successfully concluded today with the transfer of 100 per cent shares of Air India to Talace Pvt Ltd along with management control. A new Board, led by the Strategic Partner, takes charge of Air India,” Secretary, DIPAM stated.

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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.

 

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