NEW DELHI: Air India, the country's national carrier, will be sold trhis week. "The disinvestment of Air India is now determined to happen on January 27, 2022," a senior business executive stated in an email to the airline's staff.
"The closing balance sheet as of January 20 must be submitted today, January 24, so that Tatas can evaluate it and make any necessary modifications on Wednesday." "The next three days will be intense for our department, and I request that all of you give your best in these last three-four days before we are divested," the message stated. To fulfil the task assigned to us, we may have to labour till late at night." The Competition Commission of India approved Talace, a wholly-owned subsidiary of Tata Sons, acquiring Air India, Air India Express, and Air India SATS Airport Services last month.
Talace would own 100 percent of the equity share capital of Air India and Air India Express, as well as 50 percent of the equity share capital of Air India SATS Airport Services.
The airline, like AIXL, is primarily in the business of providing domestic and international scheduled air passenger transportation as well as air cargo transportation.