It’s official! Air India has been handed over to the Tata Group after 67 years. The Tata group had founded Air India as Tata Airlines in October 1932. The government nationalised the airline in 1953.

The formalities have been completed. The Air India disinvestment process is closed. The shares have been transferred to Talace Pvt Ltd, which is the new owner of Air India, Tuhin Kant Pandey, Secretary, Department of Investment & Public Asset Management (DIPAM) stated last week.

The transaction covers three entities – Air India, Air India Express and AI SATS. Air India is India’s flag carrier and premier full-service airline. Air India Express is a low-cost carrier. AI SATS provides a comprehensive suite of ground handling and cargo handling services. Post the process completion, Tata Sons chairman N Chandrasekaran expressed, “We’re totally delighted that this process is complete and happy to have Air India back in the Tata Group. We look forward to walking with everyone to create a world-class airline,” Chandrasekharan said to reporters. Following the handover to Tata Group, the conglomerate tweeted, “Your arrival was much awaited.”

While this will be the first privatisation since 2003-04, Air India will be the third airline brand in the Tatas’ stable – it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd.