Handing over of Air India by weekend

New Delhi: Air India is likely to be handed over to the Tata group by the end of this week, senior government officials said on Monday.

After a competitive bidding process, the government had on October 8, 2021, sold Air India to Talace Private Limited, a subsidiary of the Tata group's holding company, for Rs18,000 crore.

Following that, on October 11, a Letter of Intent (LoI) was issued to the Tata group confirming the government's willingness to sell its 100 percent stake in the airline. On October 25, the Centre signed the share purchase agreement (SPA) for this deal.

Officials said on Monday that the remaining formalities regarding this deal are expected to be completed in the next few days and the airline will be handed over to the Tata group by the end of this week.