Air India Sell-Off: Government Planning to Sell Air India, will be Bid by March 17

The government has presented a plan to sell 100 percent stake of Air India on Monday. Accordingly, 100 percent stake of Air India Express will be sold. Air India will have a 50 percent stake in joint venture company AISATS.
Air India Sell-Off: Government Planning to Sell Air India, will be Bid by March 17

The government has introduced a plan to sell 100 percent stake in Air India. Accordingly, 100 percent stake of Air India Express will be sold. Despite all the opposition, the government is committed to selling Air India. On Monday, the government released a memorandum containing preliminary information about it.

Management Control
According to the bid document issued by the government, 100 percent stake of Air India Express will be sold. Apart from this, 50% stake of AI will be sold in AISATS, a joint venture company of Air India and SATS. The management control of Air India will also be given to the winning company.

The government has released the deadline till March 17 to show expression of interest (EoI) for Air India. News agency IANS quoted sources as saying that potential bidders for Air India include Tata group, Hinduja, Indigo, SpiceJet and several private equity companies. Many foreign companies can partner with Indian companies to participate in Air India auction.

Sources say that despite the poor condition of Air India, companies are showing interest in buying it because it has extensive domestic and international networks, traffic rights and slots at important airports like London, Dubai. He also has large technical manpower and fleet.

 A few days before this process of starting the bidding process, Swami has warned the government on the plan to sell Air India. They say that this issue is still being discussed by the Parliamentary Committee. Swamy told that at this time the disinvestment of Air India is being considered before the Advisory Committee. He himself is a member of this committee. Swamy even warned that if the government goes ahead, he will go to the court.

Attempt to Rescue Air India from Crisis

Air India has a debt of thousands of crores of rupees, including long-term loans for the purchase of aircraft and working capital. An official aware of the disinvestment plan said, 'Now Air India has a loan of just Rs 18,000 crore. When a bid is invited for this, then only a loan of Rs 18,000 crore will be shown in the accounts.

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