Tata Sons to officially become the new owner of Air India from today: Report

27 Jan 2022 , 11:46 AM

The mega-deal in the aviation industry where Tata Sons will once again become the owner of the country’s national carrier, Air India is said to complete on Thursday.

As per many reports, Tata and the Indian government officials will be meeting today to exchange hands where Air India will be handed over to the former. The national carrier is said to hold a board meeting today.

Under the meeting, it is said that the official nominees will submit their resignation and the new Board will take charge.

Last year, in October, Tatas became the successful bidder for acquiring a 100% stake in Air India. Tatas will also acquire the entire wholly-owned subsidiary Air India Express and a 50% stake in Air India SATS.

Tata Group’s wholly-owned subsidiary Talace Pvt submitted a winning bid of Rs18,000cr as the Enterprise Value of Air India.

Under the acquisition, the Tatas will own a 100% stake in Air India (a full-service airline operating in domestic and international markets) as also 100% in its subsidiary Air India Express (a low-cost carrier airline that focusses on short-haul international operations especially in the Middle East market) and 50% in the joint venture Air India SATS (airport services on ground and cargo handling).

The total permanent and contractual employee strength of Air India & AIXL is 13,500.

The airline has a fleet of 117 wide-body and narrow-body aircraft and AIXL has a fleet of 24 narrow-body aircraft. A significant number of these aircraft are owned by Air India.