The Government of India has completed the disinvestment of Air India, with the Tata Group formally completing the transaction for the purchase and taking over management of the airline.
N Chandrasekaran, Chairman, Tata Sons, said, “We are excited to have Air India back in the Tata Group and are committed to making this a world-class airline. I warmly welcome all the employees of Air India, to our Group, and look forward to working together.”
A company release said that Chandrasekaran also called on Prime Minister Narendra Modi earlier today.
The transaction covers three entities – Air India, Air India Express and AI SATS.
Air India is India’s flag carrier and premier full-service airline, and the Tata Group has also taken ownership of Air India Express and AI SATS.
Air India Express is a low-cost carrier. AI SATS provides a comprehensive suite of ground handling and cargo handling services.