Tata Group to take on board a fourth of Air India’s total debt

The Tata Group will effectively take on a fourth of Air India’s total debt and has to hold on to at least 51% of the carrier for a year and keep 12,000 of the carrier’s employees, also for a year, as part of privatisation conditions. It will also stick to a business continuity clause for three years and retain the brand for five years as part of the deal.