The government is making another attempt at a strategic sale of Air India, and is mulling divesting its entire 100 percent stake in the airline, Business Standard reports.
Businesses have been approached to convince them to bid for the debt-ridden airline and invitations seeking Expression of Interest (EoI) could be made public next month, sources told the paper.
In 2018, the government had put up 74 percent of Air India's stake up for sale, a bid that failed to generate interest from a single buyer. The airline currently has an outstanding debt of Rs 29,000 crore.
Moneycontrol could not independently verify the story.
The newspaper said the process of selling Air India's subsidiaries is on course and that EoIs for the ground handling firm Air India Air Transport Services have been sought. "Due to the election process, it was kept on hold. Prospective bidders have raised a few queries,” a source told the Business Standard.
The Department of Investment and Public Asset Management (DIPAM), part of the finance ministry, is working on the divestment process.
DIPAM Secretary Atanu Chakraborty is likely to brief the Prime Minister’s Office (PMO) soon.
27/05/19 Moneycontrol.com
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Businesses have been approached to convince them to bid for the debt-ridden airline and invitations seeking Expression of Interest (EoI) could be made public next month, sources told the paper.
In 2018, the government had put up 74 percent of Air India's stake up for sale, a bid that failed to generate interest from a single buyer. The airline currently has an outstanding debt of Rs 29,000 crore.
Moneycontrol could not independently verify the story.
The newspaper said the process of selling Air India's subsidiaries is on course and that EoIs for the ground handling firm Air India Air Transport Services have been sought. "Due to the election process, it was kept on hold. Prospective bidders have raised a few queries,” a source told the Business Standard.
The Department of Investment and Public Asset Management (DIPAM), part of the finance ministry, is working on the divestment process.
DIPAM Secretary Atanu Chakraborty is likely to brief the Prime Minister’s Office (PMO) soon.
27/05/19 Moneycontrol.com
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