Government invites bids for 100 per cent stakes sale in Air India
New Delhi : The Government on Monday invited Expression of Interest from bidders for the 100 per cent stakes sale of debt-ridden Air India, which has a total of Rs 50,000 crore due.
Along with the Air India, the government has also invited bids for the Indian Air Express and its complete 50% share of ground handling subsidiary AISATS.
The total debt of Air India and Air India Express to be taken on by the new buyer is ₹23,286 crore. The actual debt of the two entities combined was ₹ 60,074 crore. The balance of nearly ₹27,000 crore has been absorbed by the government.
The last date to submit the Expression of Interest for the airline services in March 17 and the results for it are likely to be announced by March 31.
This is the second attempt launched by the government to sell the debt-ridden airline, which has accumulated over ₹50,000 crore in dues.