Air India's disinvestment to take place on January 27, says top airline official
Vinod Hejmadi, Air India's Director of Finance, stated in an email to workers that the closing balance sheet as of January 20 will be presented to the Tata group. If any adjustments are required, they might be required made by January 26.
Air India's disinvestment will take effect on January 27, according to a top airline executive on January 24. Vinod Hejmadi, Air India's Director of Finance, stated in an email to workers that the closing balance sheet as of January 20 will be presented to the Tata group. If any adjustments are required, they might be required made by January 26. "The disinvestment of Air India has been scheduled on January 27, 2022. The closing balance statement for January 20 is due today, January 24, so that Tata may evaluate it and make any necessary modifications on Wednesday," Hejmadi stated in the email, according to ANI.
According to senior government sources who talked to the news agency PTI earlier on Monday, Air India would most likely be handed over to the Tata group by the weekend. As per the report, the airline told its staff on January 20 that grooming colleagues had been assigned to collect observations on BMI management, grooming, and clothing.
Notably, the Tatas won the auction to buy the debt-ridden 'Maharaja' last year. On October 8, the airline was sold to Talace Private Limited, a Tata group's holding company subsidiary, for Rs 18,000 crore. On October 11, the government released a letter of intent to the Tata group, reaffirming the government's desire to sell its whole interest in the airline. The Centre signed the share purchase agreement for this transaction on October 25. According to officials, as per news agency PTI, the remaining procedures in this arrangement are anticipated to be completed over the next few days.
Talace, a holding company of the Tata Group, has won a bid to acquire 100 per cent ownership in Air India and Air India Express and a 50 per cent investment in ground handling business AISATS.