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“Transport Bubbles” are temporary pacts between two countries for resuming commercial passenger assistance while regular international flight suspension proceeds.
In October last year, the government had sold Air India to Talace Private Limited- a subsidiary of the Tata group's holding company- for ₹18,000 crore.
Air India received technical clearance from Federal Aviation Administration to start flying its Boeing 777 aircraft from January 20, the national carrier of India said in a statement.
The lenders are likely to be informed by Tata about the allocation in the first week of January.
On October 8 the Tata Sons had won the bid for Air India.
Air India owes about ₹2,350.62 crores, Alliance Air owes ₹109.81 crores, SpiceJet Ltd ₹185.52 crores, and GoAir ₹56.53 crores to the Airport authorities.
Currently, the Vande Bharat Mission allows only government charter relief aircraft from Singapore to convey passengers to India (VBM).
Moreover, Air India will stop offering government officials credit facilities and hereafter require them to make purchases of tickets with the use of cash.
Tatas defeated 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 to sell its 100 per cent stake in the loss-making carrier.
Tata Sons acquired the deal to purchase a debt-laden airline with a winning bid of Rs 18,000 crore, of which the debt took over by Tata will be Rs 15,300 crore while Rs 46,262 crore will continue with AIAHL.
Talace Private Limited, an entity of Tata Sons, will be acquiring a 100 per cent stake in the carrier as part of the acquisition.
The rumours began to surface after Bloomberg had reported earlier that the conglomerate would re-acquire the national airline 68 years after relinquishing its control to the government when Air India was nationalised in 1953.
The formal statement is likely to arrive in the coming days. This is a breakthrough in the government's privatisation initiative and will give back Air India to its owners after nationalising it in 1953.
The Tata Group, through its holding company and SpiceJet chairman Ajay Singh, is likely to make its financial bid for the airline in its personal capacity.
In a series of guidelines, the Central Board of Direct Taxes (CBDT) has averred that no TDS shall be deducted under section 194Q in case of transfer of goods by Air India Ltd to AIAHL.
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