Govt targets selling Air India by June
Prime Minister Narendra Modi’s government is close to inviting financial bids for flag carrier Air India Ltd., according to people familiar with the matter, moving toward the sale of an airline that’s surviving on taxpayer money.
The bidders would have 90 days to submit their financial offer from the date of request, the people said, asking not to be identified citing rules.
India’s Tata Group and SpiceJet Chairman Ajay Singh have been shortlisted to bid for the carrier, local media reported this week. An invitation for financial bids will be a progress for Modi, who has failed previously to sell the enterprise that has been rescued by the government multiple times in the past decade.
