Sunday, November 10, 2019

Government to try attract more bidders for Air India to accelerate privatisation process

New Delhi: The long-awaited privatisation of Air India (AI) is expected to be delayed further as the government is making sure there are enough buyers this time for the bidding.

According to an official, it won’t be surprising if the government pushes issuing an expression of interest to early next year as it is still seeking inputs for corporate houses that have shown interest in buying the airline.

It was expected till last month that the government would open bids for the airline in November/ early December with relaxed norms so it meets its divestment target for financial year 2020.

However, the stake sale committee is yet to hold the planned roadshows in Singapore and then London to boost investor interest in the national carrier. The disinvestment of AI will be handled by Department of Investment and Public Assets Management that reports to the finance ministry, and the ultimate call on the process would be taken by AI Specific Alternative Mechanism headed by Home Minister Amit Shah.
Below than expected interest shown by Qatar Airways recently has come as a surprise for the government, which is expected to woo major global carriers to investment in India, he said.
09/11/19 New Indian Express

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