New Delhi: The government may offload 100 per cent equity share of national carrier Air India in an attempt to woo potential bidders. Worth mentioning here is that in June last year, the civil aviation ministry had suffered a huge setback when not a single bidder submitted Expressions of Interest (EoI) for the ailing state-run carrier.
The government has approached big businesses all over again to evaluate their interest in the national carrier and persuade them to bid once the divestment process takes off, Business Standard reported, citing people aware of the development. The civil aviation ministry and the Department of Investment and Public Asset Management (DIPAM) have already started the process.
The report further mentioned that Civil Aviation Secretary Pradeep Singh Kharola has asked Air India to finalise the financial accounts of the carrier and its subsidiaries for 2018-19 by the end of June.
The Centre is reportedly eyeing around USD 1 billion (about Rs 7,000 crore) from the sale of Air India.
DIPAM secretary Atanu Chakraborty is likely to inform the Prime Minister’s Office (PMO) soon regarding steps taken by the department and the transaction advisor about the strategic sale of Air India. The government wants to sell the carrier’s subsidiaries before the airline itself, in an earnest attempt to slash the outstanding debt of approximately Rs 27,000 crore, the report mentioned.
27/05/19 ETNowNews.com
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The government has approached big businesses all over again to evaluate their interest in the national carrier and persuade them to bid once the divestment process takes off, Business Standard reported, citing people aware of the development. The civil aviation ministry and the Department of Investment and Public Asset Management (DIPAM) have already started the process.
The report further mentioned that Civil Aviation Secretary Pradeep Singh Kharola has asked Air India to finalise the financial accounts of the carrier and its subsidiaries for 2018-19 by the end of June.
The Centre is reportedly eyeing around USD 1 billion (about Rs 7,000 crore) from the sale of Air India.
DIPAM secretary Atanu Chakraborty is likely to inform the Prime Minister’s Office (PMO) soon regarding steps taken by the department and the transaction advisor about the strategic sale of Air India. The government wants to sell the carrier’s subsidiaries before the airline itself, in an earnest attempt to slash the outstanding debt of approximately Rs 27,000 crore, the report mentioned.
27/05/19 ETNowNews.com
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