New Delhi, Business Desk. The curtain has been lifted from the name of the new owner of Air India. The government has announced to hand over this deal to Tata Sons. Tata Sons’ unit Talace Pvt Ltd has got this deal for Rs 18 thousand crore. The deal is expected to be completed by December 2021. Announcing this, Dipam Secretary Tuhin Kant Pandey said that there was a tough competition between the two bidders for the deal. If experts are to be believed, after this deal there is a possibility of new growth in the aviation industry.
Advantages of Air Vistara
Tata Sons is already operating the aviation service Vistara in association with Singapore Airlines. This deal is expected to benefit Vistara in a big way. His network can change from National to International. It is also being said that Tata Group will bring the airline business under one banner. However, this will require the consent of Singapore Airlines (SIA). Singapore Airlines (SIA) holds a 49 percent stake in the company.
100% stake will be sold
The government is selling its 100% stake in the airline. In this, Air India’s 100 percent stake AI Express Ltd. and Air India SATS Airport Services Pvt Ltd with 50 per cent stake. Are included. Its condition has become slim due to the total accumulated tax burden of Rs 60,000 crore on the state-owned company Air India.
deal will be completed soon
The government had recently started evaluating the financial bids for the acquisition of Air India. With this, the process of privatization of the public sector airline had moved to the next stage. The financial bids were evaluated on the basis of the undisclosed reserve price, sources said. After this the name of Tata Group was selected. (with agency input)
Edited By: Ashish Deep