A consortium led by SBI which includes major lenders,Punjab National Bank,Bank of Baroda and Union Bank of India has agreed to provide loans to TATA groups.
TATA groups has won a bid to acquire the national carrier along with the Air India Express is expected to take over the Airline on Thursday.They agreed to grant loan along with working capital loan.
According to the letter issued on October 11,2021,confirms that the government’s willingness to sell its 100percent stake in airlines.This deal does not includes land and buildings.
Tata groups has promised to restrain all the employees of Air India atleat for an year.AirIndia will be the third airline brand of Tata groups following AirAsia india and Vistara.
To keep AirIndia afloat,more than Rs.1.10 lakh crore has been infused by way of cash and loan.