Government can invite bids for Air India soon, this is plan

Oct 20 2019 05:48 PM
Government can invite bids for Air India soon, this is plan

New Delhi: The Modi government at the Center is planning to call for initial bids next month to sell 100 per cent stake in Air India. Some bodies have already shown interest in Air India. Sources have given this information. The company has an outstanding debt of about 58 thousand crore rupees. Sources said that some bodies have already spoken of buying Air India.

Sources said that the bidding papers are being finalized. He said that bids could be called at the end of this month or next month. The tendering will be done through the recently developed e-tendering system. Municipal Aviation Secretary Pradeep Singh Kharola took a review meeting before the meeting of the company's board of directors. The Board of Directors is scheduled to meet on 22 October. Unions of employees of this airline are opposing the proposal for disinvestment. They are afraid of going to work.

A debt bond of about Rs 30,000 crore is to be issued to clear the balance sheet of the airline. These bonds can be issued by Air India Asset Holding Company (AIAHL), the airline's special venture company.

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