Tata Sons board meet today, Air India plans on agenda

October 12, 2021 5:15 AM

This means that Tata Sons’ board will not be immediately taking on record further investments in the carrier, expansion plans and upgradation of the existing fleet among others.

tata sons board meetLast week, Tata Sons’, through its wholly-owned subsidiary Talace, had placed a winning bid of Rs 18,000 crore for Air India.

By Rajesh Kurup

Tata Sons will hold its board meeting on Tuesday, which coincides with the group winning the bid for State-run carrier Air India.

The board is expected to discuss the winning of the Air India bid and the group’s plans for the carrier, while other matters on the agenda include the group’s digital foray and progress on the super app, sources close to the development said.

Last week, Tata Sons’, through its wholly-owned subsidiary Talace, had placed a winning bid of Rs 18,000 crore for Air India.

“The completion of documents, including long form agreement, is expected to be completed only by December this year, and a complete handover by March 2022. So the board would not be spending much time on the airline’s bid as Tata Sons has a little over five months to frame the future of the carrier,” a source said.

This means that Tata Sons’ board will not be immediately taking on record further investments in the carrier, expansion plans and upgradation of the existing fleet among others.

“As of now, apart from the financials the group only knows that it is getting 117 aircraft. Tata officials are yet to inspect the planes, which will be also done in the due course of time,” he added.

The board will also discuss Tata’s super app — TataNeu — which has already been provided to its 7 lakh employees for testing ahead of a commercial launch.

Including chairman N. Chandrasekaran, the board had six directors. The others on the board are Venu Srinivasan (chairman of Sundaram-Clayton and TVS Motor Company), Ajay Piramal (chairman of Piramal Group and the Shriram Group), Ralf Speth (chief executive officer of Jaguar Land Rover), Bhaskar Bhat (former managing director of Titan) and Harish Manwani (former global chief operating officer for Unilever and non-executive chairman of Hindustan Unilever).

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