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When will the process of disinvestment of Air India be completed, know what the MD of Air India has to say

Air India News: The government is trying to complete the process of disinvestment of its owned airline Air India by the end of December. Civil Aviation Secretary Rajiv Bansal today said all efforts are being made to complete the process of handing over control of Air India to the Tata group by the end of this year. Bansal is also the Chairman and Managing Director of Air India.

Tata Group won Air India’s bid
Tata Group’s company Talles Private Limited had made the highest bid for Air India. On October 25, the government had signed a stake purchase agreement with Tata Sons, the top company of the Tata group. From this deal of about Rs 18,200 crore, the government will get cash of Rs 2700 crore. At the same time, Tata will also take the outstanding loan of Air India of Rs 15,300 crore.

Air India Express will also come to the Tata group
Along with Air India, the Tata group will also get Air India’s 50 percent stake in the affordable airline Air India Express and the joint venture AISATS. Bansal said that Air India was continuously running in loss and its monthly loss had exceeded Rs 600 crore. Air India has 43 aircraft including 27 Boeing 737s in its fleet.

Air India has huge debt
Prime Minister Narendra Modi had said that the disinvestment of Air India will give new energy to the country’s aviation sector. As on August 31, the airline had a total debt of Rs 61,562 crore.

Ratan Tata gave information by tweeting
As soon as the Tata Group winning Air India’s bid became public, Ratan Tata gave information about this by tweeting and shared the news of this big achievement of the company with a very special photo.

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