The government has partnered with Tata Sons for Rs. 18000 crore share purchase agreement signed

For sale by Air India

Information provided by the Secretary of the Department of Investment and Public Asset Management on Twitter

New Delhi: The government has entered into a Rs 18,000 crore share purchase agreement with Tata Sons for the sale of Air India. Earlier this month, Tata Group's holding company, Tata Sons' subsidiary Tales Pvt Ltd, accepted a proposal for a cash payment of Rs 2,700 crore and liability of the airline for more than Rs 15,300 crore.

A Letter of Intent (LOI) was then issued on 11 October. It said the government wanted to sell its 100 per cent stake in the airline.

Tuhit Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), said on Twitter that the government had today entered into a share purchase agreement with Tata Sons for Air India's strategic disinvestment. The deal also includes the sale of Air India Express and Air India ground handling company AIS ATS.