Air India officially returned to the Tata Group this afternoon, becoming the third airline brand in the company's stable.
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 per cent stake in ground handling arm Air India SATS.
"Your arrival was much awaited," tweeted the Tata Group soon after the handover.
Tatas had beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier.
"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," Tata Sons Chairman N Chandrasekaran said in a statement.
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.
Of the airline's 141 aircraft that Tatas would get, 42 are leased planes while the remaining 99 are owned.
Tatas had set up Tata Airlines in 1932, which was later -- in 1946 -- renamed as Air India. The government had taken control of the airline in 1953, but JRD Tata continued to be its chairman till 1977.
Over the last decade, more than Rs 1.10 lakh crore was pumped by way of cash support and loan guarantees in the loss-making airline to keep it afloat.
Air India Flight From Paris Diverted To Jaipur, Fliers Sent To Delhi On Bus Emergency Landing, Fliers Stuck For 3 Days In Phuket; Air India Responds Air Pollution: Try These Breathing Exercises To Combat Lung Damage Strangled, Left In Car Trunk: How Harshita Brella Was Killed By Husband AR Rahman, Wife Saira Announce Separation After 29 Years Of Marriage Amid Souring Ties With India, Canada's Latest Move Inconveniences Fliers Rare Pre-Revolutionary Silver Coin Shatters Records, Fetches $2.52 Million Video: Panic In Hyderabad Locality As 5-Storied Building Tilts Dangerously Trump Names Former WWE CEO As Chief Of Department Of Education Track Latest News Live on NDTV.com and get news updates from India and around the world.