Return of Air India to Tata Group Union Civil Aviation Minister Jyotiraditya Scindia on Friday said Guna is a new dawn for the airline, adding that he hopes the airline will continue to bring people closer.
“The return of Air India to the Tata Group marks a new dawn for the airline! My best wishes to the new management, and congratulations to the Secretary DIPAM and the Ministry of Civil Aviation for successfully completing the arduous task of constructing a new runway for the airline. Close!” Scindia wrote on Twitter.
“I hope the airline continues its mission of bringing people closer through its successful operations,” he added.
Minister of State for Civil Aviation VK Singh also congratulated the Tata group for winning the Air India bid.
“Under the new management, I sincerely hope that Maharaja will continue to be an enduring Indian brand that stands for outstanding quality.
“Credits to the teams of Ministry of Civil Aviation and Secretary DIPAM for their tireless efforts,” he wrote on Twitter.
This comes as Tata Sons won the bid to acquire national carrier Air India earlier in the day ₹18,000 crores.
Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management, informed that the transaction will be completed by December 2021.
The bid was filed by Tales Pvt Ltd, a wholly owned subsidiary of Tata Sons.
Tata Sons was against SpiceJet’s promoter Ajay Singh-led consortium, which made the bid ₹15,100 crores.
The total debt of Air India as on August 31 is ₹61,562 crore. Tata group bid ₹18,000 crore takeover ₹15,300 crore loan and the rest to be paid in cash.
Air India’s reserve price was fixed after the bids were called to ensure that the bidders do not get to know about the reserve price before placing their bids. It ensured utmost confidentiality when it comes to the reserve price.
The government will sell its 100% stake in Air India, Air India Express and 50% stake in ground handling company AISATS.
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