Bids for 100% stakes in Air India, its subsidiary Air India Express and 50% in joint venture AISATS are to be expected by September 15, minister of state for civil aviation Vijay Kumar Singh told Parliament on Thursday. He said there will be a 10% reduction in reserve prices of 16 of the airline’s properties as previous attempts of auctioning them failed to attract bidders.
Singh said for the airline’s disinvestment process, movable assets are to be transferred to the new owner. He added immovable assets are being monetised to offset the debt of Air India.
Singh gave the information in response to queries from lawmakers Manish Tewari (Congress) and Mimi Chakraborty (Trinamool Congress).
