New Delhi [India], February 8 (ANI): The strategic disinvestment transaction of Air India has been successfully completed on January 27, 2022, said Union Minister of State (MoS) for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha on Monday.

On the question of the percentage of shares disinvested, the Minister stated that 100 per cent shares of Air India (including 100 per cent shares of its subsidiary, Air India Express Ltd (AIXL) and 50 per cent shares of its JV, AISATS) have been disinvested.

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The Minister further stated that with the disinvestment of Air India on January 27, 2022, there is no equity stake of the Centre left in Air India or AIXL and the airlines are now under the management control of the strategic buyer.

Notably, after 69 years of its nationalisation, Air India formally became part of Tata Group, its founder. The government formally handed over the airline to Tata Group at a ceremony held in the national capital. (ANI)

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