Air India sale ready to take off: GoM okays EoI, share purchase agreement
A group of ministers (GoM) on Tuesday finalised the sale of the entire government stake in state-owned Air India (AI). The alternative mechanism for AI, led by Home Minister Amit Shah, approved the Expression of Interest (EoI) for prospective suitors in the airline. The public announcement through newspaper advertisements will be done within two weeks, officials involved in the sale process said.
The GoM also gave in-principle approval to hive off around Rs 20,000 crore of additional debt and liabilities to a special purpose vehicle, to make it more attractive to prospective buyers.
“The committee has approved the Expression of Interest, share purchase agreement, and restructuring of further debt today. The EoI will be open to bidders and public shortly,” a senior government official said.
