Tatas to take over, operate Air India by Jan 23, 2022

Tatas have to take control and start running AI, AI Express and AI-SATS (in which 50% stake is with the new owners) latest by January 23, 2022 — the “long stop date” as per the share purchase agreement signed with the government last month. “If there is a delay in fulfilling conditions precedent (CP) requirements or disagreement on the closing balance sheet, the long stop date can be extended with mutual consent of both the parties,” sources said.

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