On January 27, 2022, the Indian government successfully handed over Air India to the Tata Group, nearly 69 years after it was stolen from the TATAs. The airline was turned over to the company as all processes were nearing completion, according to officials.
The Tata Group will also receive the Air India Express and a 50 percent share in Air India SATS’ ground handling arm as part of the arrangement with the government.
While this will be the first privatisation of the Indian government since 2003-2003, Air India will be Tata’s third airline brand, as the conglomerate owns a significant stake in AirAsia India and Vistara. Singapore Airlines Ltd. Is a partner in the enterprise.
“We demand that this anomaly be addressed and the cash due be reimbursed with immediate effect,” the two unions wrote in their letter. Additionally, two other unions oppose the carrier’s January 20 directive to inspect cabin staff members’ grooming and assess their body mass index (BMI) at airports soon before their flights.
These unions, the Air India Employees’ Union (AIEU) and the All India Cabin Crew Association (AICCA), wrote to Dutt on Monday contesting the decision, claiming that it is dehumanising and in breach of DGCA norms.
The BMI is calculated by dividing a person’s weight in kilogrammes by the square of their height in metres. According to the Centers for Disease Control and Prevention’s website, “a high BMI can suggest significant body fatness.”
On October 8, three days after the sale of Air India was announced, the government submitted a Letter of Intent to the Tata Group, indicating the government’s intent to sell its whole ownership in the airline. The Centre signed the share purchase agreement (SPA) for this sale on October 25.
The Chairman of the Tata Group will be present in Delhi to witness the formal transfer.
N Chandrashekhar, Chairman of the Tata Group, is in New Delhi to witness the formal transfer of Air India to the Tata Group. He’ll be in charge of the formal transfer procedure at the ministries. On January 27, the Tata Group will make a public announcement about the official transfer procedure.
Air India: Key Points
1. Maharaja is the official mascot of Air India. The airlines operate globally apart from domestic operations.
2. As per the available data in 2020, Air India operates around 101 destinations including 57 domestic operations. It also includes 33 countries on four continents around the world.
3. has also been carrying a substantial number of the latest aircraft in its fleet from both Airbus and Boeing which is also Air India’s strength.
Air India was bought out completely by the Tata Group.
The Tata Group was announced as the winning bidder in the national carrier Air India’s disinvestment process on October 8, 2021.
Tata had outbid a consortium led by Spice Jet promoter Ajay Singh for Rs. 15,100 crores and the Government of India’s reserve price of Rs. 12,906 crores for the sale of its whole stake in the loss-making airline.
In a recent email to staff, Air India’s Director-Finance stated that the company’s disinvestment would take place on January 27, 2022. The closing balance sheet from January 20 will be available on January 24 for Tata to review.