Air India Divestment: Tatas to take home ‘Maharaja' on January 27; DIPAM, Finance Ministry officials will be involved

The official transfer of Air India operations by the Tata Group will take place on January 27, 2022, in the evening, Zee Business special correspondent Ambarish Pandey said in a report on Tuesday.  

The Department of Investment and Public Asset Management (DIPAM) and Finance Ministry officials will be present, along with top Tata Group executives, during the transfer and formally Air India will become the Maharaja of Tata, the report said, adding further that Tata Group has got the closing sheet. 

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“Tata Group will inform the department by Wednesday evening with necessary changes, corrections,” the special correspondent mentioned. 

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. 

Officials said on Monday that the remaining formalities regarding this deal are expected to be completed in the next few days, and the airline will be handed over to the Tata group by the end of this week, according to a PTI report.  

The Tata group will also be given Air India Express and a 50 per cent stake in ground handling arm Air India SATS as a part of the deal. 

Tatas had on October 8 bid the Rs 15,100-crore offer by a consortium led by SpiceJet-promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier. 

Air India will be the third airline brand in the Tatas' stable, as it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.