Tata group officially Air India acquisition It was taken from the group on Thursday after nearly 69 years from the government. The transfer marks the end of the disinvestment process months after the sale was confirmed.
What does the return of the Maharaja mean?
Air India transferred from Govt. It is unlikely to affect operations heavily for the Tata group, at least for the first few months. While there may be some minor changes, no major shakeups are likely to happen for a few months. This includes changes in staff or flight operations.
Customers are also unlikely to be affected as there will be no change in flight operations post-transition. The only changes that will be seen by the fliers will be related to the branding on the inside and outside of the aircraft.
Meanwhile, two airline pilots unions – Indian Pilots Guild (IPG) and Indian Commercial Pilots Association (ICPA) – on Monday warned Air India CMD Vikram Dev Dutt of legal action as “several deductions and recovery anticipated” on dues Gone” to the pilots.
“This recovery exercise is completely illegal, and we demand that this discrepancy be rectified and the arrears cleared with immediate effect,” said the letter sent by both the unions. Additionally, two other unions have opposed the carrier’s January 20 order to investigate. Grooming and measuring body mass index (BMI) of cabin crew members at airports just before flight.
This union air india employeeThe Union (AIEU) and the All India Cabin Crew Association (AICCA) on Monday wrote to Dutt opposing the order, saying it was inhumane and violated the norms laid down by aviation regulator DGCA.
Tata’s love for aviation
It may be noted that 100 per cent of Air India will be transferred to Tales Pvt Ltd, a wholly owned subsidiary of Tata Sons. As a part of the deal, the Tata Group will also be handed over 50 per cent stake in Air India Express and ground handling arm Air India SATS.
Tata, the new owner of Air India, is going to be a formidable player in the aviation ministry as he will get control of 4,400 domestic and 1,800 international landing and parking slots at domestic airports apart from 900 slots at airports abroad with the handover of Air India .
The Tata group already holds majority stake in AirAsia and Vistara. Therefore, in the long term, there is a possibility that the group may consider merging all of its airline businesses, allowing it to eliminate additional expenses and generally more revenue. Further clarity on this can be expected after the completion of the disinvestment process.
Air India Cell
The privatization of Air India was long overdue. The Indian government was trying to privatize it since 2017. The national carrier has been in the red since its merger with Indian Airlines in 2007. The government is using taxpayers’ money to keep the airline afloat. According to the Ministry of Civil Aviation, the government has invested Rs 1,10,276 crore as equity in Air India since 2009 to meet its losses.
The Tata group reclaimed Air India from the government on October 8, 2021 for Rs 18,000 crore after a competitive bidding process. After that, a letter of intent (LOI) was issued to the Tata group on October 11, confirming the government’s desire to sell its 100 per cent stake in the airline.
The government signed the Share Purchase Agreement (SPA) for the deal on October 25, 2021.
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