Air India Divestment Process

In the last 10 years, though PSU stocks have gained ground, they have mostly been laggards at the bourses

In January, the government restarted the divestment process of the carrier and invited bids for selling its 100 per cent stake in both Air India and Air India Express

Prospective buyers can now sell off the airline after a year, require reduced net worth to be eligible and don't need to have shown profits in the past to be eligible for bidding

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.

Air India has been in the red for long and the government is now in the process of finalising the contours for its disinvestment

Roadshows were recently held in Singapore and London to gauge investor interest for the debt-laden national carrier

To revive the debt-laden Air India, the government is working on the modalities for 100 per cent stake sale in the national carrier

The official also said the government is trying to work out some formula to further make the deal more sweeter

The rule mandates that control of an airline always remain in Indian hands, one of several reasons global firms have been wary of bidding for Air India Ltd

Government is considering a plan to exclude more than half of Air India's $11 billion of debt in the government's latest attempt to lure investors to the struggling carrier, said sources

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This will be the government's third attempt to sell the debt-laden national airline

A senior government official said that the civil aviation ministry which is the owner of the airline had explored the idea of listing the airline

The government was considering several proposals related to reviving the divestment process

The joint forum, which is a platform of various Air India unions, associations and guilds, has been opposing the move to privatise the national carrier on the grounds of massive 'job losses'

Aviation consulting firm says it is critical for Centre to amend labour and debt conditions for divestment process to succeed

Bidders have termed the condition as onerous; they feel it potentially rules out a merger of operations with a group's existing brands

The core group has now suggested that a company with a proven track record of running a successful airline be allowed to bid even if its net worth is negative

open to evaluating bids for Air India

Air India has constituted five project teams headed by senior officials to deal with various aspects of the disinvestment