Air India can be handed over to Tata Group today. Last year, Tata had bought the Government of India’s 100 percent stake in Air India by bidding for Rs 18,000 crore.
The central government can hand over the airline Air India to the Tata Group today. After the Indian government took the airline from the group about 69 years ago, it is now being handed over to the Tata group again.
On October 8 last year, the central government sold Air India to Tales Pvt Ltd after the bidding process for Rs 18,000 crore. It is a wholly owned subsidiary of the Tata Group. Air India officials said all formalities are nearing completion and the airline is likely to be handed over to the Tata group.
Pilot Association is protesting
At the same time, two airline pilot unions, the Indian Pilots Guild (IPG) and the Indian Commercial Pilots Association (ICPA), have warned Air India’s Chairman and Managing Director Vikram Dev Dutt of legal action, saying it has led to several litigations on pilots’ dues.
There may be deductions. In such a situation, the outstanding amount should be paid immediately. Apart from this, two other unions have opposed the company’s January 20 order to measure the body mass index (BMI) of pilots at the airport just before flights.
The Air India Employees Union (AIEU) and the All India Cabin Crew Association (AICCA) have written to Dutt opposing the order, saying it is inhuman and in violation of the Directorate General of Civil Aviation (DGCA) rules.
This Will be The Third Airline of The Tata Group
Let us inform that on October 8 last year, three days after the announcement of the sale of Air India, a letter of intent (LOI) was issued to the Tata group, in which the government had confirmed the sale of its 100 percent stake in the airline.
In this regard, the Central Government had signed the share purchase agreement on October 25. Under the deal, the Tata group is also to be given 50 percent stake in Air India Express and ground handling arm Air India SATS.
This is the first privatization being done by the central government after the year 2003-04. At the same time, Air India will be the third airline brand for Tata. Because the company already has stake in AirAsia India and Vistara.
Spicet Had Also Bid
Last year, the central government had kept a reserve price of Rs 12,906 crore for selling its 100 percent stake in Air India.
On October 8, SpiceJet’s promoter Ajay Singh-led consortium made a bid of Rs 15,100 crore. At the same time, Tata won the bid by bidding for Rs 18,000 crore.
