The government has invited preliminary bids to divest its 100% stake in Air India, and the airline’s subsidiary Air India Express along with its joint venture Air India SATS Airport Services Private Limited.
The last date for submission of bids is 17 March, and qualified bidders will be notified 31 March, according to bid document issued by the Department of Investment and Public Asset Management.
The networth requirement for eligible bidders has been relaxed to Rs3,500 crore from ₹5,000 crore, and the lead member of a consortium can have 26% shareholding.
The minimum shareholding in a consortium has also been eased to 10%, potentially enabling more entities to bid as part of a consortium.The successful bidder of Air India will be required to absorb Rs23,286.5 crore of debt.
Civil Aviation Minister Hardeep Singh Puri has said Air India along with Air India Express is a great asset.
Air India CMD Ashwani Lohani in an exclusive conversation with DD News has said that he is confident of divestment of Air India.