Air India likely to be handed over to Tatas by end of this week

Air India is likely to be handed over to the Tata Sons as early as this Thursday, culminating in the selling off the national carrier three months after the salt-to-software conglomerate won the bid.

The government had issued the Letter of Intent (LoI) to the Tata Sons on October 11 last year, three days after the announcement of the winning bid. On October 25, the Centre signed the Share Purchase Agreement (SPA).

On October 8 last year, the government announced the Tata Sons’ Special Purpose Vehicle M/s Talace Pvt Ltd as the buyer of Air India after bidding of Rs 18,000 crore. The losing bid of SpiceJet Chairman and Managing Director Ajay Singh quoted Rs 15,100 crore.