Air India is likely to be handed over to Tata group by January 27New Delhi: Air India is likely to be handed over to Tata Group by this weekend as the federal government has decided to complete the disinvestment procedure on January 27, a senior official said on Monday.
The disinvestment of Air India is now decided to be on January 27.
The closing balance sheet as on January 20 needs to be offered today (January 24) so that it can be examined by Tatas and any changes can be effected on Wednesday (January 25), Vinod Hejmadi, director financing, Air India, said in an e-mail to workers.
We have actually done an exceptional job till now in providing all assistance for the disinvestment exercise.
The next three days will be hectic for our department and I ask for all of you to provide your best in these last three four days prior to we get divested, Mr Hejmadi said.Seeking cooperation of the workers, he said, We might need to burn the midnight oil in the night to finish the task offered to us.
I seek the cooperation of one and all.
A senior Air India official stated, If due to some reason the time of January 27 is postponed, then divestment procedure needs to be done till completion of the month.
Talace Pvt Ltd, a wholly owned subsidiary of Tata Sons Pvt Ltd, in 2015 won the bid to acquire 100 per cent equity shareholding of Federal government of India in Air India along with equity shareholding of Air India in AIXL and Air India SATS Airport Solutions Private Limited (AISATS).