The newly constituted Air India Specific Alternative Mechanism (AISAM) has approved the release of the Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EOI) from the Interested Bidders (IBs) for Strategic Disinvestment of Air India.
About:
The Union government invited bids for a 100% stake sale of Air India (AI) and transfer of management control along with its complete share in two subsidiaries — low-cost international carrier Air India Express and ground-handling arm AISATS.
The government has also offered to hive off liabilities worth nearly ₹40,000 crore.
On the table is a 100% stake in AI, 100% stake in AI Express Limited (AIXL) and all of the government’s 50% stake in AISATS, which is a joint venture with the Singapore-based ground handling company SATS Limited.
The buyer will get a total of 146 aircraft, 56% of which are owned by the airline group, while the remaining are on lease. Any private or public limited company, a corporate body and a fund with a net value of ₹3,500 crore will be eligible to bid.
The last date for submitting interest to the transaction adviser is March 17 and the outcome of this round will be known by March 31.
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