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Tuesday, 22 October, 2019, 16 : 00 PM [IST]

Centre likely to float bids for sale of Air India next month

According to a PTI report, the government is planning to invite preliminary bids for 100% stake sale in Air India next month and some entities have already expressed interest in the national carrier, people familiar with the matter said. The airline is sitting on a debt pile of around INR 58,000 crore, besides huge accumulated losses running into thousands of crores. Some entities have already expressed interest in buying Air India, they said, adding the Expression of Interest (EoI) document is being given the final touches. Bidding for the national carrier will be carried out through a newly developed e-bidding system. Last week, civil aviation secretary Pradeep Singh Kharola took a review meeting of Air India ahead of the airline’s board meet scheduled to be held on 22 October. 
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