Air India stake sale: Bidders to get share purchase agreement with EoI

As of June 1, there were 9,834 permanent employees and 3,556 contractual employees in AI, which has 125 aircraft.

To reassure investors, the government will issue a draft share purchase agreement (SPA) along with the formal Expression of Interest (EoI) invitation for loss-making Air India (AI). This is the first time in a disinvestment exercise where the EoI and SHA will be issued simultaneously.

An EoI for sale of at least 95 per cent of AI (keeping 5 per cent for an employee stock ownership plan), along with Air India Express and the ground-handling joint venture, Air India SATS Airport Services, is likely to be invited by the first week of November.

The central government owns all the AI equity. In