Government will promote 100% stake in Air India, might bid on March 17

by Jeremy Spirogis
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The authorities may even promote 100 % of Air India, Air India Express and 50 % of AISATS.

new Delhi: The Government of India has determined to promote its 100% stake in Air India. The authorities has additionally made its plan public for this on Monday. The complete debt on Air India is round Rs 58,000 crore. <! –

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With this, the proper of administration management may even go to the profitable bidder. The authorities has launched the deadline until March 17 to indicate expression of curiosity (EoI) for Air India.

Let us know that in November final 12 months, Union Minister of Civil Aviation Hardeep Singh Puri had mentioned within the Rajya Sabha that within the occasion of not privatizing the nationwide service, Air India, it needs to be closed. He, nevertheless, mentioned {that a} favorable deal can be ensured for all workers. Puri, answering a query within the Upper House, mentioned, 'I’ll go to that extent and say this.' After this, Puri mentioned that the airline can be shut down if it’s not privatized.

Let us inform you that within the first try and promote the stake of Air India, the Modi authorities invited Expression of Interest (EOI) to promote its 76% stake in May 2018, however not a single non-public occasion confirmed curiosity within the first part of the bid.

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