(Shutterstock)The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment with the deadline for submitting expression of interest set as March 17. As part of the strategic disinvestment, 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 per bid document issued on Monday. Air India also has interests in Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India. According to the document, 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 adviser for Air India disinvestment process.

Source: The Telegraph January 27, 2020 03:45 UTC