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The central government is all set to hand over Air India to the Tata Group tomorrow, 27 January, reported ANI, quoting senior government officials. The transfer will mark the end of the disinvestment process months after the sale was confirmed.

"The disinvestment of Air India is now decided to be on the 27 January 2022. The closing balance sheet as on 20th Jan has to be provided today 24th Jan so that it can be reviewed by Tatas and any changes can be effected on Wednesday," Vinod Hejmadi, Director Finance, Air India, said in an email to employees.

Tata Group reclaimed Air India from the government for 18,000 crore on 8 October 2021 after a competitive bidding process. After that, a letter of intent (LoI) was issued to the Tata Group on 11 October, confirming the government’s willingness to sell its 100 per cent stake in the airline. 

According to the deal, the government will also hand over Air India Express and a 50 per cent stake in ground handling arm Air India SATS to the Tata group.

As of now, Tatas own two airline companies. Air India will be the third brand. The conglomerate holds a majority stake in AirAsia India and Vistara.

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