Tata Group officially takes over Air India

Tatas had beat the INR 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of INR 12,906 crores set by the government to sell its 100 per cent stake in the loss-making carrier.

Tata Group officially takes over Air India
TATA Group logo and the owner Ratan Tata Credits — Oprice

In Oct. 2021, the government sold Air India to Talace Private Limited, a Tata Group holding company subsidiary, for INR18,000 crores.

Later, a Letter of Intent (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline. The Centre had also signed the share purchase agreement (SPA) for this deal. As a part of the deal, the Tata Group will be handed over Air India Express and a 50 percent stake in ground handling arm Air India SATS.