Tatas also hold a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.
As part of the deal, the Tata group will also be handed over Air India Express and a 50% stake in ground handling arm Air India SATS.
The Tata Group tweeted “Your arrival was much awaited,” after the handover.
Tata Sons Chairman N Chandrasekaran said that, “We are excited to have Air India back in the Tata Group and are committed to making this a world-class airline. I warmly welcome all the employees of Air India to our Group, and look forward to working together,”
Currently, Air India controls over 4,400 domestic and 1,800 international landing and parking slots at domestic airports as well as 900 slots abroad.
