Media Eye News Bureau: Air India Limited, an Indian government owned, enterprise is up for sale.
The Narendra Modi led government is planning to break up the in debt national carrier Air India into four separate companies.
On January 10, 2018, the cabinet had proposed the foreign investors to invest up to 49% in the company’s shares on the basis of Foreign Direct Investment (FDI)rules for civil aviation. 51% of the shares are bifurcated amongst the four companies which will be put for sale.
The four separate segments will be Air India and Air India Express, Ground handling, Alliance Air and MRO. As per reports Air India and Air India express will be considered as a single company during bidding. The Minister of State for Civil Aviation Jayant Sinha in an interview also informed that the process is expected to be completed by the end of 2018.
The bidding procedures and date will be updated soon. Interested parties can bid for one or more companies.
