Groundwork has been done for (sale of) ground handling (subsidiary). Since, it was totally linked to Air India operations, it could not be independently sold.
The unions have also sought clarification on leave encashment and time for at least one year for employees to reside in the designated Air India colonies.
Bansal in an order said the airline's disinvestment process is in its final stages and letter to intent has been already issued to the Tata group.
The total debt on the books of Air India was Rs 61,000 crore, of which the government retained Rs 46,000 crore.
Dutta said Air India will be a formidable force under the Tata Group and IndiGo does not take it lightly at all.
Pandey also added that the government would continue to support the airline’s operations by giving Rs 20 crore required daily to maintain it as a going concern.
I think the Air India mascot needs to be made the most of. There is no need to be shy. We have no Maharajahs today and that’s the very reason not to give up on this one
Addressing a press conference here, CPI(M) general secretary Sitaram Yechury alleged that the airline's burden of Rs 46,262 crore will be left to the people of the country.
The deal, which is expected to be completed by December-end, also includes sale of Air India Express and ground handling arm AISATS.
Air India flies to its former owner with no resale for five years.
While it is surely one of the biggest and most emotional achievements for the Tata Group to re-acquire Air India, it will be a Herculean task to turn around this debt-laden Maharaja.
The government clarified that VRS will be offered if anyone is to be removed after a year.
Air India’s 20-year steeplechase to find itself a worthy suitor has ended.
New dawn for Air India: Civil Aviation Minister Jyotiraditya Scindia on airline's sale to Tata Group
'I hope the airline will continue to deliver on its mission of bringing people closer through its successful operations,' Jyotiraditya Scindia added.
'On an emotional note, Air India, under the leadership of Mr J R D Tata had at one time gained the reputation of being one of the most prestigious airlines in the world,' Tata said.