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The low-cost airline has informed the Cochin International Airport Ltd authorities that it will operate its cargo service in the Kochi-Dubai-Kochi sector.
The group has two full-service carriers -- Vistara and Air India -- along with two low-cost airlines -- Air India Express and AirAsia India -- and a ground and cargo handling company, AISATS.
DIPAM secretary Tuhin Kanta Pandey told reporters that Air India has been handed over to Talace Private Limited, a subsidiary of the Tata Group's holding company, which is the successful bidder.
In a bid to woo travellers to north Malabar, the region is gearing up to organize a tourism festival.
With this schedule becoming effective, CIAL will facilitate 694 weekly domestic operations which is at par with pre-pandemic period.
Air India, with its maharajah mascot, was once renowned for its lavishly decorated planes and stellar service championed by the airline's founder, JRD Tata, India's first commercial pilot.
The government is seeking to sell 100 per cent of its stake in the state-owned national airline, including Air India's 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Private Ltd.
Jhunjhunwala, known as 'India's Warren Buffett' for his successful stock investments, plans to team up with former CEOs of IndiGo, the country's biggest carrier, and Jet Airways to tap into demand for domestic air travel.
An effort to auction a majority stake almost two years ago drew no bids, forcing the government to ease terms. It has also extended the deadline multiple times this year due to COVID-19 and further eased the terms to attract bidders.
Tata to use Air Asia as a vehicle where Tata Sons has a significant majority stake.