New Delhi: The way has been cleared for handing over the private sector to Air India, the state-run airline, which is going through a financial crisis. The government may seek bids to sell its 100 per cent stake in the company next month. Some bodies have already shown interest in Air India. The airline now has a debt of about 58 thousand crore rupees. Sources said that some bodies have already shown interest in buying Air India. Bidding documents are being finalized by the government. Bids may be called at the end of this month or next month. Its tender will be issued through the recently developed e-tender system.
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Civil Aviation Secretary Pradeep Singh Kharola held a review meeting before the meeting of the company's board of directors. The board of directors is scheduled to meet on 22 October. The board meeting will approve consolidated accounts of Air India for the financial year ended March 2019. The airline's employee organizations are opposing the disinvestment process. He believes that there is a fear of leaving the job after the move. Please note that oil companies have stopped supplying fuel to this company, which is debt-ridden.
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