News > Air India to be handed over to Tata Group Today

Air India to be handed over to Tata Group Today

Evening Standard | 27/01/2022 12:58 PM | Click to read full article

The Indian government is likely to hand over Air India to the Tata Group on Thursday, nearly 69 years after it was taken from the conglomerate, officials said on Wednesday.

Three days after Air India’s sale was announced on October 8 last year, a Letter of Intent (LoI) was issued to the Tata Group confirming the government’s willingness to sell its 100 percent stake in the airline. On October 25, the Centre signed the share purchase agreement (SPA) for this deal. Officials said on Wednesday that the airline will most likely be handed over as all the formalities are close to completion.