Govt Plans to Sell 100% Stake in 'Air India'

New Delhi, January 27, 2020:

The Government of India has announced the sale of 100 percent stake in Air India following the issuance of a bid for the strategic disinvestment and setting March 17 as the deadline for submission of expression of interest.

Air India also, as part of the disinvestment, would sell 100 percent stake in Air India Express, a low-cost airline and 50 percent of AISATS shares. As per the bid, the national carrier's management control would also be transferred to the successful bidder.

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According to the document, a debt of Rs 23,286.5 crore would remain with Air India and Air India Express at the time of closing of the disinvestment.

The national carrier's staff will be offered three per cent of the airline’s total shares in the government’s disinvestment process, as per reports.

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It may be mentioned here that this is the second time in less than two years that the government has proposed the sale of the national carrier's stakes.

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