The government today announced the sale of 100 percent stake in debt-laden Air India. Issuing the preliminary bid document for the strategic disinvestment today, the government has set March 17, as the deadline for submitting an expression of interest.
As part of the strategic disinvestment, Air India would also sell 100 percent stake in low-cost airline Air India Express and 50 percent shareholding in joint venture AISATS. Management control of the airline would also be transferred to the successful bidder.
Briefing media in New Delhi, Civil Aviation Minister Hardeep Singh Puri has said that Air India along with Air India Express is a great asset and the successful bidder will continue to use the Air India brand.