New Delhi. The government’s attempt to sell the debt-ridden state-run airline company Air India finally succeeded. After a long wait, the command of Air India has been handed over to the Tata Group. Civil Aviation Minister Jyotiraditya Scindia said on Friday that the sale of Air India to the Tata Group marks a new dawn for the airline and he hopes the carrier will continue to bring people closer through successful operations.
Scindia tweeted, “The return of Air India to the Tata Group marks a new dawn for airlines! My best wishes to the new management, and congratulations to the Secretary DIPAM and the Ministry of Civil Aviation for successfully completing the difficult task of constructing a new runway for the airline to take off.”
Air India’s return to @TataCompanies marks a new dawn for the airline! My best wishes to the new management, and congratulations to @SecyDIPAM & @MoCA_GoI for successfully concluding the difficult task of paving a new runway for the airline to take off!
— Jyotiraditya M. Scindia (@JM_Scindia) October 8, 2021
“I hope the airline continues its mission of bringing people closer through its successful operations,” he said.
Also read- Air India’s ‘homecoming’ after 68 years, now Ratan Tata will take over the command, the government has stamped
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is responsible for the privatization of state-run companies, said that a Special Unit (SPV) of Tata Sons, the holding company of the Tata Group, has been selected as the successful bidder. has emerged.
In the race to acquire Air India, Tata Sons beat SpiceJet promoter Ajay Singh-led conglomerate. DIPAM’s secretary said Tata’s bid of Rs 18,000 crore includes taking a loan of Rs 15,300 crore and paying the rest in cash.
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