Tata Sons Chairman calls on Modi hours before Air India takeover

The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets.

migrator

Updated:27th Jan, 2022 at 4:46 PM

Chennai

Ahead of the national airline's takeover by the Tata Group, N Chandrasekaran, the Chairman of Tata Sons called on Prime Minister Narendra Modi in New Delhi today.

The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. The deal also includes sale of Air India Express and ground handling arm AISATS.

Read: 'Your arrival was much awaited': Tata Group officially takes over Air India

Tata Sons Chairman calls on Modi hours before Air India takeover

The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets.

Also Read

TN CM Vijay launches scathing attack on DMK, AIADMK, alleges collusion between them

Tesla opens experience centre in Chennai

The Paradise review: A striking world undone by predictable writing

No commitment given to bank unions on 5-day work week by Finance Ministry, say sources

AIADMK seeks ECI action over TVK’s ‘two leaves-whistle’ remarks