March 17 is deadline for submissions of initial expressions of interest; any bidder would have to agree to assume roughly $3.26 billion in debt.
The
government said India said on Monday it plans to sell its entire
stake in Air
India, in a revised push to sell its national carrier after an
initial attempt to sell a majority stake in the airline failed to
draw a single bid in 2018.
A
document inviting expressions of interest in Air India, released on
Monday, said the government would sell a 100 per cent stake in the
carrier, which operates both domestic and international routes.
The
document set March 17 as the deadline for submissions of initial
expressions of interest and said any bidder would have to agree to
assume roughly $3.26 billion in debt, along with other liabilities.
The
government said that substantial ownership and effective control of
Air India would have to remain vested with an Indian entity following
the sale, limiting the scope of any foreign bidders interested in the
asset.
In
2018, India had tried to sell a 76% stake in Air India and offload
about $5.1 billion of its debt, terms that potential buyers at the
time viewed as too onerous.
Air
India, known for its Maharaja mascot, has some of India's most
lucrative international and domestic landing and parking slots that
are key for airlines.
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