With Air India set to be acquired by Tata group, Prime Minister Narendra Modi today said the decision on the national carrier will give new energy to the country's aviation sector.
His comments come weeks after Tata group emerged as the winning bidder for Air India paving the way for disinvestment of the loss-making carrier.
In an address after inaugurating the Kushinagar International airport, PM Modi said the decision on Air India will give new energy to the aviation sector of India.
Tata group has emerged as the winning bidder for Air India, and on October 11, a letter of intent (LoI) was issued to the group.
Earlier this month, the government accepted an offer by Talace Pvt Ltd, a unit of Tata group, to pay Rs 2,700 crore cash and takeover Rs 15,300 crore of Air India's debt.
After Tatas accept the LoI, the share purchase agreement (SPA) for the sale will be signed. Along with Air India, Tatas will acquire low-cost carrier Air India Express and Air India's 50 per cent stake in equal joint venture AISATS.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Tips To Protect Your Newborns From High Air Pollution Can Nebulisers Help Curb Breathing Issues Due To Pollution? At G20 Summit, PM Modi Calls For Efforts Towards A More Sustainable Future Live Updates: BJP+ Ahead In Maharashtra, Tight Race In Jharkhand, Predict Exit Polls Advantage BJP+ In Maharashtra, Close Fight In Jharkhand, Predict Exit Polls Man Slashes Teacher's Neck In School. She Had Refused To Marry Him After US Missile, Ukraine Fires UK's 'Storm Shadow' Into Russia: Report What UN Watchdog Said About Israel Destroying Iran's 'Top Secret Nuke Site' Rs 20 Lakh For 'Chief Of Staff' Role? Zomato CEO's Job Offer Stuns Internet Track Latest News Live on NDTV.com and get news updates from India and around the world.