Air India Likely To Be Handed Over To Tata Group On January 27

Air India is more likely to be handed over to Tata group by January 27

New Delhi:

Air India is more likely to be handed over to Tata Group by this weekend as the federal government has determined to finish the disinvestment course of on January 27, a senior official mentioned on Monday.

“The disinvestment of Air India is now decided to be on January 27. The closing balance sheet as on January 20 has to be provided today (January 24) so that it can be reviewed by Tatas and any changes can be effected on Wednesday (January 25),” Vinod Hejmadi, director finance, Air India, mentioned in an e-mail to staff.

“We have done an excellent job till now in providing all support for the disinvestment exercise. The next three days will be hectic for our department and I request all of you to give your best in these last three four days before we get divested,” Mr Hejmadi mentioned.

Seeking cooperation of the workers, he mentioned, “We may have to work late in the night to complete the task given to us. I seek the cooperation of one and all.”

A senior Air India official mentioned, “If due to some reason the time of January 27 is postponed, then divestment process has to be done till the end of the month.”

Talace Pvt Ltd, an entirely owned subsidiary of Tata Sons Pvt Ltd, final 12 months gained the bid to amass 100 per cent fairness shareholding of Government of India in Air India together with fairness shareholding of Air India in AIXL and Air India SATS Airport Services Private Limited (AISATS).

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