Tata Takes Over Air India after 69 years

Tags: Economics/Business

The Tata Group on 27th January 2022, announced the completion of a strategic disinvestment transaction for the purchase of Air India from the Government of India.

• The strategic disinvestment transaction of Air India successfully concluded with the transfer of 100 percent shares of Air India to M/s Talace Pvt Ltd along with management control.
• A new Board, led by the Strategic Partner, takes charge of Air India.
• In October 2021, the Government of India sold Air India to Talace Private Limited, a subsidiary of the Tata groups holding company for ₹ 18,000 crores.

Tatas had set up Tata Airlines in 1932, which was later in 1946 was renamed as Air India. The government had taken control of the airline in 1953, but JRD Tata continued to be its chairman till 1977. The handover will be the homecoming of Air India to Tatas after 69 years.