The new board constituted by the Tata Group will take over the airline by p.m., according to people familiar with the development
The Air India board is expected to resign in a few hours post noon on Thursday (Jan. 27) and the new board constituted by the Tata Group will take over the airline by 3 p.m., according to people familiar with the development.
The management team will be put in place in a few weeks by the Tatas and more details on how the airline would be run will emerge in 15 to 20 days.
The Tatas who already run two other airlines — Air Asia India and Vistara with majority control — have enough expertise available in-house to manage Air India.
Singapore Airlines which is 49% partner in Vistara is expected to lend support to streamline operations and in integration.
The takeover of Air India by the Tata Group comes nearly 69 years after the airline was taken away from them following nationalisation.
In October 2021, Tata Sons’ subsidiary Talace Pvt. Ltd. won the bid to acquire Air India for ₹18,000 crore.
As per the deal Air India Express and 50% of Air India’s ground handling unit will also come under the Tatas.