Jayanta Roy ChowdhuryNew Delhi: The government does not plan to dilute the terms of reference for the disinvestment of Air India despite "demands and pressures" from a number of bidders. On offer is a 76 per cent stake in Air India to the successful bidder, which can be a single firm or a consortium. Though foreign airlines are allowed a 49 per cent stake, management control has to remain in Indian hands. Most of the potential Indian bidders are existing airlines - Jet, Indigo and the Tatas, who own Air Asia India and Vistara - who were looking to synchronise their operations with Air india, including taking over some of Air India's lucrative routes and landing slots and eventual merger. The amount of debt and the "arms length management" clauses are believed to be behind Jet and Indigo fighting shy of entering the fray and reports suggesting that the Tatas may not be that keen on Air India.

Source: The Telegraph April 13, 2018 19:18 UTC