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Lot of interest in Air India stake sale, says civil aviation secy as deadline looms

AI 1


Mumbai :There is a great deal of interest for the Air India disinvestment initiative, civil aviation secretary R N Choubey said, as the deadline for submission of preliminary bids looms over the corner.

The last date for submission of Expression of Interest (EoI) for the proposed 76% stake sale in the debt-laden airline ends on May 31.
Earlier this month, the government had come out with clarifications related to the disinvestment move.

 

“There is a great deal of interest for Air India,” Choubey said at the US-India Aviation Summit which commenced on Thursday in Mumbai. He said no American carrier had expressed a formal interest for Air India.

The divestment includes the profit-making Air India Express and AISATS, an equal joint venture between the national carrier and the Singapore-based SATS Ltd.

The last date for submission of EoIs for Air India disinvestment had been extended to May 31 from the earlier deadline of May 14. The qualified bidders would now be known on June 15, whereas the earlier date was May 29.

Starting the disinvestment process of the debt-laden national carrier, a preliminary information memorandum for the proposed sale of up to 76% stake in Air India along with management control to private entities was issued on March 28.

The government also made it clear that it would have the rights of a “minority shareholder” with 24% stake in Air India post disinvestment.