Air India to sell 5% stake: Apply till March 8

(PTI) New delhi date. ૨૭

The government today announced to sell 5% stake in debt-laden government airlines Air India. According to the notification issued today, a bid could be made in the house on March 7.

According to the bid document issued today, Low Cost Airline Air India Express will have a 5% stake in Air India Express and 5% stake in Joint Venture AISATS.

As per the announcement issued today, the complete management of the airlines will also be entrusted to the successful bidder. The government has tried to sell Air India for the second time in the last two years. The deadline to apply for a bid has been fixed on March 7.

AISATS is a joint venture between Air India and Singapore Airlines. It provides ground handling service. Air India also has interests in Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India. All four companies will be merged to form a new company Air India Assets Holding Limited (AIAHL).

Earlier, the government had announced the sale of Air India's 5% stake in the 5th, but at that time no company was ready to buy it. This time, the government has announced that it will sell Air India's 5% stake.

It is worth mentioning that Air India's net loss in FY 6-8 was Rs. At present, airlines have a total debt of Rs.

Releasing rumors of airlifting all flights to Air India, Civil Aviation Prime Minister Hardeep Singh Puri said on December 3 that Air India was suffering a loss of Rs 3 crore every day, although the process of renovating it would not be completed until the airport was completed.