The government on Monday signed an agreement with Tata Sons for the sale of crisis-ridden national carrier Air India for Rs 18,000 crore. In a tweet, department of investment and public asset management (Dipam) secretary Tuhin Kanta Pandey said: “Share Purchase Agreement signed today by Government with Tata Sons for strategic disinvestment of Air India.”
As part of the deal, the government will get Rs 2,700 crore or 15% of the bid amount in cash, while the balance (Rs 15,300 crore) will go towards clearing a portion of the airline’s debt.
