November 06, 2024 02:30 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Air India sale to be concluded by September as govt invites financial bids
Air India Privatisation

Air India sale to be concluded by September as govt invites financial bids

| @indiablooms | 13 Apr 2021, 11:11 pm

New Delhi/IBNS: The sale of national carrier Air India has reached the financial bidding stage and the transaction is likely to be concluded by September this year, said media reports.

The government has started the process of inviting the financial bids for the sale of the cash-strapped Air India, after ineligible bidders were filtered out in the initial stages.

Salt-to-software conglomerate Tata Group was among multiple companies that had put in preliminary bids to buy Air India last December.

According to media reports, the eligible bidders were provided access to the Virtual Data Room (VDR) of Air India, following which the investors were given answers to their questions.

The transaction has now progressed to the financial bidding stage and is likely to be completed by September, sources said, reported media.

The government is selling entire 100 per cent stake in Air India that will give the successful bidder access to 1,800 international and 4,400 domestic landing and parking slots at domestic airports, as well as 900 slots at airports overseas, stated media reports.

the buyer will also get 50 per cent of AISATS, which provides cargo and ground handling services at major Indian airports and 100 per cent stake of Air India Express, the low cost carrier owned by Air India.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.