The airline also has subsidiaries such as Air India Express which flies mostly to the Middle East, Alliance Air that runs regional operations as also key units for engineering and ground handling among others, with sizable infrastructure and expertise. So we are providing flexibility in the bidding process,” Sinha said, adding that the transaction adviser will call for multiple bids which includes one for an integrated Air India and the rest for subsidiaries. Sinha said though the Tatas have made public statements of interest in Air India, there is no formal letter like the one sent by IndiGo. Air India had a total debt of Rs48,877 crore at the end of March 2017, of which about Rs17,360 crore was aircraft loans and Rs31,517 crore working capital loans. “It is a global experience and our own that when the private sector operates in certain areas where there are largely private sector players, the private sector can provide much better services and a much better product than the public sector can,” he added.

Source: Mint December 01, 2017 19:52 UTC