AI to sell Air India Express 100% stake | Nagpur updates
On Monday the government invited preliminary bids to sell its entire interest in Air India, along with its joint venture Air India SATS Airport Services Private Limited, and the airline subsidiary Air India Express.
The last bid date is March 17, and eligible bidders will be informed March 31, according to the bid document released by the Investment and Public Asset Management Department. The government owns 100 percent stake in Air India and its subsidiary Air India Express. AISATS is a joint venture partnership between Air India and Singapore Airport Terminal Services Limited providing services in the handling of ground and freight.
The Government of India has given in principle approval for AI’s strategic disinvestment through the transfer of management control and selling of AI’s 100 percent share capital owned by GOI which will include AI’s 100 percent shareholding interest in AIXL and 50 percent shareholding interest in AISATS (Air India SATS Airport Services Private Limited),’ the document stated.
This is the second attempt by the Centers to divest their stake in the national carrier that bleed money. In 2018, the government led by Nareandra Modi had expressions of interest in divesting 76% of the airline’s share but found no takers. That time, the government and its profitable arm, Air India Express, had wanted to sell the loss-making company.
