While Tata bought Air India in a bidding a couple of months back, the official transfer from Air India to Tata Group will happen this week. As per the reports, the central government has decided to disinvest Air India on January 27th.
“The closing balance sheet as of January 20 is to be provided on Monday so that it can be reviewed by Tata and any changes can be made on Wednesday,” Director Finance, Air India, Vinod Hejmadi, informed the employee through an email.
“The next three days will be hectic for our department and I request all of you to give your best in these last three-four days before we get divested. We may have to work late in the night to complete the task given to us. I seek the cooperation of one and all,” it further read.
With this official transformation, Air India will be back to its original owners after nearly 7 decades. Air India was formed by Tatas and the company was named Air Tatas in 1932. However, in 1953 it was sold to the government of India.
