Bids invited again for Air India sale, govt aims to seal deal by March-end
New Delhi: The government invited bids for a 100% stake in Air India, aiming to finalise a sale of the loss making national carrier by the end of March, after having sweetened the deal by absorbing about two thirds of its debt. Control will be retained by a domestic entity as overseas investors can only acquire as much as 49% under the rules. Apart from Air India, also on sale are Air India Express and a 50% stake in ground-handling company Air India Singapore Airport Terminal Services, according to the notification seeking expressions of interest issued on Monday. Air India Express is a low-cost subsidiary that flies overseas.
