This is government’s second attempt in less than two years divest its stake in the debt-laden airline, which has been bleeding money.
An Air India Boeing 787 with the registration VT-ANV taking off from London Heathrow Airport (LHR) in the United Kingdom. (Photo: iStock)
Employee unions affiliated to Air India are going to hold a meeting here on Monday to discuss proposed privatisation of the national carrier, sources said.
The meeting was scheduled after the government, earlier in the day, announced sale of 100 per cent stake in Air India as it issued the preliminary bid document for the strategic disinvestment.
There are around a dozen recognised trade unions at Air India.
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“The Government of India (GOI) has given ‘in-principle’ approval for the strategic disinvestment of AI (Air India) by way of the transfer of management control and sale of 100% equity share capital of AI held by GOI which will include AI’s shareholding interest of 100% in AIXL (Air India Express Limited) and 50% in AISATS (Air India SATS Airport Services Private Limited),” as per a bid document issued on Monday.
Therefore, the control from the management side over the airline would also be transferred to the successful bidder.
This is government’s second attempt in less than two years divest its stake in the debt-laden airline, which has been bleeding money.
The last date for the submission of expression of interest is January 17 and the qualified bidders will be notified by March 31.
(With input from agencies)
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