In a fresh move towards the disinvestment of Air India, the government on Monday issued the preliminary information memorandum for 100 per cent stake sale in the national carrier Air India. According to the bid document, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as part of the strategic disinvestment. Air India has also interests in Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India. According to the document, a debt of Rs 23,286.5 crore would remain with Air India and Air India Express at the time of closing of the disinvestment. EY is the transaction advisor for Air India disinvestment process.

Source: Indian Express January 27, 2020 03:42 UTC