‘Devas action won’t delay Air India handover’, target remains January-end

NEW DELHI: The government does not expect Air India’s handover to the Tatas getting delayed due to continuing legal action by shareholders of Devas Multimedia to seize Indian assets abroad. Officials in the know say the transition is going to happen “very soon”, with the earliest target being by the month-end.
The board of AirAsia India (AAIPL), in which Tatas hold 83.7% stake, will meet on Monday. While the agenda could not be ascertained, the first merger will be of AAIPL and AI Express as a low cost carrier. Air India and Vistara (51% owned by Tatas and 49% by Singapore Airline, or SIA) will continue to operate as separate full service carrier (FSC) till SIA agrees to have a merged FSC.
“Things (have been) sorted (out). Closing very soon,” top government sources told TOI on Sunday when asked if the decision of Devas Multimedia shareholders despite the Supreme Court recently winding up the company will delay AI’s handover.