Air India will become a Tata-owned company this week as the government has decided to hand over the company to the Tata Group on January 27, 2021.
“The disinvestment of Air india is now decided to be on the 27th January,2022. The closing balance sheet as on 20th Jan has to be provided today 24th Jan so that it can be reviewed by Tatas and any changes can be effected on Wednesday,” airline’s director finance Vinod Hejmadi said in an email to employees.
Seeking support from employees, he said, all of them have done an excellent job till now in providing all support for the disinvestment exercise.
The Tata Group won a bid (through a holding company Talace) to buy 100 per cent stake in Air India along with AI Express and 50 per cent stake in ground handling company AISATS and the government has targeted to transfer to the before the end of this month.
Post the handover, the Tata Group is likely to operate three airlines – Air India, Air India Express and Vistara – after the government transfers the airline to the group and upon merger of AirAsia India and AI Express.