Competition Commission of India (CCI) has approved Tata Group’s acquisition of Air India, Air India Express, and Air India SATS Airport Services. The regulator also approved stake acquisition by Talace in Air India Express and Air India SATS Airport Services along with the acquisition of shares in Air India. Currently, Air India is wholly owned by the government.
Key Points
- Air India SATS Airport Services is engaged in providing ground handling services at airports in Delhi, Hyderabad, Bengaluru, Mangaluru and Thiruvananthapuram. It also provides cargo handling services at Bengaluru airport.
- Air India, along with AIXL, is primarily engaged in the business of providing domestic scheduled air passenger transport service, air cargo transport services and international scheduled air passenger transport service.
Tata’s Bid:
Tata Sons’ subsidiary Talace emerged as the highest bidder for AIR India, under the divestment process. The government on October 8 had announced that Tatas have won the bid to acquire debt-laden national carrier Air India for ₹18,000 crore. The amount includes payment of ₹2,700 crore in cash and take over ₹15,300 crore of the carrier’s debt.
