Air India plans legal, tech audit to attract buyers
New Delhi: Air India is hiring legal and technical experts for a scrutiny of its contracts and the condition of its aircraft to ensure clarity to its probable bidders. “The whole idea of this assessment is to provide a clear picture on all Air India contracts and airplanes for the probable bidders to see before they decide to bid for the airline,” said a senior official.
Although the government did not allow any such audit during the divestment process last year, it changed its stand this time in a more desperate bid to find a buyer for the airline. The government’s attempt to sell 76% stake in the airline drew a blank last time, forcing it to do a course correction that included plans to dilute its entire stake in the ailing carrier.
