The government has notified the agreement between Air India and Special Purpose Vehicle (SPV) AIAHL for the transfer of non-core assets, ahead of the national airline’s takeover by the Tata Group.
The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore.
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.
