Air India sale: Govt to release EoI, Share Purchase Agreement in a week

As the government desperately tries to off load state-run carrier Air India, it is expected to release the Expression of Interest and Share Purchase Agreement (SPA) for the airline in a week, CNBC TV-18 reported. The government also approved the EoI and SPA for the airline this week as the airline’s dues mount to Rs 80,000 crore. To that extent, the bidders will be given about 45 days for submission of proposals, Hardeep Singh Puri, Minister of Civil Aviation, told the news channel, adding that while the government has been trying to sell Air India for a while now, the first attempt failed because it was not a politically right time.

Stating that Air India’s losses are around Rs 80,000 crore, MoS Hardeep Singh Puri reiterated the government’s inclination towards selling off the airline and said that there is no other option left with them other than divesting Air India.