The government of India officially handed over India’s flag carrier, Air India to the Tata Group on January 27, 2022, almost 69 years after acquiring the conglomerate. The total value of the deal is Rs 18,000 crore (US$2.4 billion). The strategic disinvestment transaction of Air India includes the transfer of a 100 per cent stake of GoI in Air India to Tata Sons, along with management control.
The transaction covers three entities namely, Air India, Air India Express and Air India SATS (AI SATS). Under the deal, the Tata group will also be handed over Air India Express and a 50 per cent stake in ground handling arm AI SATS.
Important takeaways for all competitive exams:
- Tata Group Founder: Jamsetji Tata;
- Tata Group Founded: 1868, Mumbai;
- Tata Group Headquarters: Mumbai.