Thursday, March 11, 2021

Govt set to invite bids for Air India sale by March end

The government has been trying to offload loss-making national carrier, Air India for a while now. CNBC-TV18 has picked up from people in the know that the government is gearing up to invite financial bids for the Air India sale by this month-end. Further, it also targets completing the process in the second half of this calendar year.

It is further learnt that the shortlisted entities for Air India may be given time till June, early July for financial bids. It is presumed that once the bids are locked, closure of AI sale may take 3-4 months post evaluation of financial bids. Thus currently a post-September date looks likely for the completion of the process.

Recently, the bid to take over Air India by a consortium of its employees, led by the airline’s Director (Commercial) Meenakshi Mallik, came to a nought after they failed to make it to the next round of the divestment process.

Now, Tata Group and SpiceJet promoter Ajay Singh are among those left in the bid to take over the national carrier. Tata seems to lead the race at the moment, according to reports.

11/03/21 CNBC TV18

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