Saturday, March 20, 2021

‘Air India divestment process has gathered pace:’ CMD to employees

New Delhi: The Air India chairman Rajiv Bansal on Friday said that the divestment process of the airline “has gathered pace”.

In an office order to employees, the airline chairman conveyed that the office will remain open on this Saturday to do “all the activities listed in (parts of) master.. and legal checklist (that need to be ) are to be completed before Wednesday.”

“In order to ensure timely completion of this task with accuracy, authenticity and correctness, it is decided that the office would be kept open on Saturday,” the order says.

Ernst and Young LLP India (EY), the government-appointed transaction advisor for AI divestment, has started informing interested parties whether they have made it to the list of qualified bidders. The qualified bidders will be given access to AI data room.

The government, which hopes to complete AI divestment early next fiscal says it had received “multiple expressions of interest (EoI)” for the airline.

The Tata Group and SpiceJet promoter Ajay Singh are among the few now learnt to be left in the bid to take over AI, with the Maharaja founder Tatas seen as most likely to get him back.

A section of Air India employees led by the airline’s director (commercial) Meenakshi Mallik was earlier this month informed that it had been disqualified from the process.

20/03/21 Saurabh Sinha/Times of India

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