Tata takes over Air India LIVE Updates | Tata Sons Chairman N Chandrasekaran meets Finance Minister Nirmala Sitharaman shortly after the take over of Air India was formally completed.
Read full text of Tata Sons Chairman N Chandrasekaran’s letter to Air India employees
I like many others, have enjoyed reflecting on stories from the airline’s brilliant past. My first
flight was with Air India in December 1986, and I will never forget how special it felt to be
onboard, or the exhilaration as we soared into the sky.
Such memories are wonderful, but now is the time to look ahead. Today is the beginning of a
new chapter. The entire nation’s eyes are on us, waiting to see what we will achieve together.
To build the airline our country needs, we need to look to the future.
I write this letter on behalf of the Tata Group, to welcome you to our family. Our Group has its
own storied past. I have learned that to preserve what is best about the past, requires
constant change. It is by evolving, adapting and embracing the future that we best honour a
glorious history.
I am convinced that the golden age of Air India lies ahead. Our journey towards it starts now.
Welcome. And welcome back.
Warmest regards,
Chandra
Tata takes over Air India LIVE Updates | Golden age of Air India lies ahead, Tata Sons chairman in letter to airline’s employees
“I am convinced that the golden age of Air India lies ahead. Our journey towards it starts now. Welcome. And welcome back,” Tata Sons Chairman N Chandrasekaran said in a letter to the Air India employees.
I Feel Very Relieved; It Has Been A Rollercoaster Ride With Legal Challenges: DIPAM Secy On Air India Sale
The strategic disinvestment transaction of Air India successfully concluded today with the transfer of 100 percent shares of Air India to M/s Talace Pvt Ltd along with management control
Tata takes over Air India LIVE Updates | Air India’s non-core asset monetisation plan will be prepared, can’t give a timeline: DIPAM Secretary
A plan for the monetisation of Air India’s non-core assets is being prepared, DIPAM Secretary TK Pandey said. “At this moment, while settling such a complex transaction, can’t give a timeline for monetisation of non core assets,” he added.
Tata takes over Air India LIVE Updates | DIPAM Secretary TK Pandey said that the debt of Rs 15,300 crore, which was to be retained, “is being retained”. The final balance sheet has been prepared with non core assets to be moved, he noted, adding that broadly the debt to be taken over by the SPV has been repaid by the holding company.
Tata takes over Air India LIVE Updates | Four existing directors continue on Air India board: DIPAM Secretary
Four existing directors of Air India will continue to remain part of the airline’s rejigged board, following the takeover by Tatas, DIPAM Secretary said.
Tata takes over Air India LIVE Updates | Dewas was one of the legal challenges for Air India deal: DIPAM Secretary
DIPAM Secretary TK Pandey told Moneycontrol that Dewas was “one of the legal challenges for the Air India deal”.
Tata takes over Air India LIVE Updates | “I feel very relieved today. It has been a roller coaster ride with legal challenges,” Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM), said in an exclusive conversation with Moneycontrol.
Tata takes over Air India LIVE Updates | Brand new chapter unfolds, tweets Air India
#FlyAI: A brand new chapter unfolds for Air India as part of the Tata Group.
Two iconic names come together to embark on a voyage of excellence.
Looking forward to soaring high propelled by our rich legacy & a shared mission to serve our Nation.
Welcome Aboard. @TataCompanies pic.twitter.com/iCVh5ewI7q
— Air India (@airindiain) January 27, 2022
Statement issued by Tata Sons on completion of Air India’s takeover
The Tata Group takes over management and control of the airline, starting 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. Air India Express is a low-cost carrier. AI SATS provides a comprehensive suite of ground handling and cargo handling services.
On this occasion, Mr. N. Chandrasekaran, Chairman, Tata Sons Pvt. Ltd. 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.”
Mr. Ratan N. Tata joined Mr. N Chandrasekaran in expressing his thankful recognition to the Government of India and its various departments for the successful completion of this important transaction.
The Tata Group would like to acknowledge Prime Minister Shri Narendra Modi’s commitment to reforms and faith in India’s entrepreneurship spirit, which made this historic transition possible. Our Prime Minister has in action demonstrated what his commitment to ‘Minimum Government, Maximum Governance’ means.
We philosophically agree with the Prime Minister’s vision for the aviation sector, of making it affordable and ensuring it contributes to boosting ‘Ease of Living’ for citizens.
New board takes charge of Air India## Tata takes over Air India LIVE Updates | New board takes charge of the airline
The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100% 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. pic.twitter.com/wd5ZcUFomI
— Secretary, DIPAM (@SecyDIPAM) January 27, 2022
