Friday, September 17, 2021

Government is committed towards strategic disinvestment of Air India

The government is committed towards the  strategic disinvestment of Air India. In a written reply in the Rajya Sabha, Minister of State for Civil Aviation Gen V K Singh said that the Preliminary Information Memorandum for inviting Expression of Interest, EoI for strategic disinvestment of 100 per cent stake of Government in Air India along with 100 per cent stake in Air India Express Ltd was issued in January last year.

He said, due to Covid pandemic the last date for submission of EoIs were extended from time to time. He said, the Request for Proposal along with draft Share Purchase Agreement has been shared with Qualified Institutional Buyers by the Transaction Adviser on 30th of March this year for submission of financial bids.

The Minister informed that the financnial bids are likely to be received by 15th September. Gen Singh said that Air India has movabale as well as immovable assets and with disinvestment of Air India Limited, the immovable assets directly connected with the air line business are proposed to be transferred to the new owner of Air India.

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