The government of India pronounced to sale of 100 per cent stake in debt-ridden Air India. The government therefore issued the bid document for the purpose of strategic disinvestment along with the deadline for informing expression of interest as on March 17 2020.
|| Anjan K Samal
The Government of India looks ready to sell 100 per cent stake in low-cost airline,i.e.- ‘Air India Express’ and 50 per cent shareholding in joint venture of AISATS, in regard to which the required bid document has been issued.
The entire Management of airline would be transferred to the appropriate authorities of the successful bidder
The government has decided with proposal for selling stake in Air India which has been in the pipe-line plan of the present Government.The deadline for submitting EOI(expression of interest) is March 17 2020.
The equal joint venture between Air India and Singapore Airlines is AISATS which offers ground handling services too.Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India are also part and parcel of Air India.
These government owned companies are now in the process of being transferred to a separate company which is named as Air India Assets Holding Ltd (AIAHL) .
According to the documented sources, the total debt of Rs 23,286.5 crore shall be kept with Air India and Air India Express at the time of closing process of the said disinvestment.