Govt wants to sell 76% stake in AI; new owner to bear 48% of Rs 470-bn debt

Minimum net worth requirement to bid for Air India set at Rs 50 bn

The government plans to sell 76% stake in Air India, according to the preliminary information memorandum released today on strategic disinvestment of the national carrier.

The Civil Aviation Ministry has sought Expression of Interest (EoI) for the stake sale in the loss-making carrier and two of its subsidiaries.

According to the memorandum, the government plans to offload 76% equity share capital of the national carrier as well as transfer the management control.

Management or employees can participate directly in the bidding process or by way of forming a consortium, as per the memorandum. Out of Rs 470-billion debt, new owner