#Air India Disinvestment : Government Set To Float Bids Soon

Image : Representational Purpose Only

The government is planning to invite preliminary bids for 100 per cent stake sale in Air India next month and already some entities have expressed interest in the national carrier, sources said.

The airline is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores.

Some entities have already expressed interest in buying Air India, the sources said, adding the Expression of Interest (EoI) document is being given the final touches.

EoI inviting bids for 100 per cent stake sale are likely to be floated either this month-end or next month, they added.

Bidding for the national carrier will be carried out through a newly developed e-bidding system.

Last week, Civil Aviation Secretary Pradeep Singh Kharola took a review meeting of Air India ahead of the airline’s board meet, which scheduled to be held on October 22 for clearing the consolidated account statement for the fiscal ended March 2019.

In September, Union Minister of Civil Aviation Hardeep Singh Puri said the process of privatisation of Air India is “truly underway”. Puri made the remarks following the first Group of Ministers meeting on the Air India crisis.