Talace, the Tata company that acquired Air India, has more ambitions in transportation

Photo: Daniel Eledut

Talace Pvt. Ltd, the company set up by the Tata Group to acquire Air India, is eyeing a broad range of business opportunities in the transportation sector, going beyond the national carrier’s operations.

These include rail, rapid transit, and metro services, running training colleges in the transportation sector, and production of parts of transportation and communication equipment, showed regulatory filings by the company.

Talace aims to leverage the diversified group’s manufacturing prowess to get into several auxiliary businesses including designing, production and repair of parts, component, and accessories of equipment that are needed in the mobility business, showed Talace’s charter filed with the Registrar of Companies (RoC).

Talace’s charter also allows it to get into the business of repair, overhaul and assembling of accessories and instruments needed in the business for itself or other entities.

The charter allows the company to acquire and amalgamate businesses it considers advantageous.

The first directors of Talace are Tata Sons’ group chief financial officer Saurabh Agrawal, Tata Sons’ chief finance officer Eruch N. Kapadia and senior vice president Nipun Aggarwal. Kapadia is also part of the Tata Sons board committee on asset liability management, the group said on its website.

Tata Group won the Air India business in the government’s disinvestment process by quoting 18,000 crore as the enterprise value of the national carrier.

Besides full ownership of Air India, a full-service airline operating in domestic and international markets, Talace will also get full ownership of Air India Express, a low-cost carrier and 50% in the joint venture Air India SATS (airport services on ground and cargo handling).

Talace would also engage in the business of providing cabin service, ramp services, ground handling services, cargo handling services, security functions and field operation services for itself and to other carriers, regulatory documents showed. A spokesperson for Tata Group said in response to an emailed query that the conglomerate has no comment to offer.

Besides budget carrier AirAsia (India), a joint venture with AirAsia (Investment) Ltd, the Tata Group operates full service domestic carrier Vistara in a joint venture with Singapore Airlines.

The pandemic has dealt a heavy blow to the fortunes of airlines as the travel and tourism industry suffered heavily.

One key challenge before the Tata Group is to streamline Air India’s operations, manage costs and leverage the synergy with the existing operations in the aviation and allied industries to turn around the national carrier.

The article was first published on livemint.com

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.