The government on Wednesday started the bidding process for debt-ridden national carrier Air India (Air India-AI). Aviation Minister Jyotiraditya Scindia has clearly said that the date of 15 September has been fixed to complete this process and no changes will be made in it.
The government had started the bidding process to sell 76 per cent stake in Air India in 2018, but no buyer was found then. After this, the government now expects at least two buyers to submit their bids by September 15.
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Quoting industry sources, news agency ANI said the Tata Group is likely to place its bid through its holding company and SpiceJet chairman Ajay Singh. At the same time, a government source said on the condition of anonymity that we are very hopeful that this time Air India will get new bidders.
Let us tell you that Air India has a huge debt. This is a debt of about Rs 43,000 crore. Out of which Rs 22,000 crore will be transferred to Air India Asset Holding Limited (AIAHL). According to information received from sources, the debt of the airline has increased to Rs 43,000 crore and all these loans are under government guarantee. Whenever the government hands over it to a new owner, the government will pay this debt.
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However, the government has refused to give any information related to the sale of Air India. The central government is preparing to sell 100 per cent stake in Air India and its low-cost subsidiary Air India Express. Apart from this, the ground holding company will sell 50 percent stake in Air India SATS Airport Services Private Limited (AISATS). At the same time, other properties including Air India building in Mumbai, Airlines House in Delhi are also included in this sale.
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