NEW DELHI : The government on Monday invited preliminary bids to divest its 100% stake in Air India, and the airline's subsidiary Air India Express along with its joint venture Air India SATS Airport Services Private Limited. Debt burdenThe successful bidder of Air India will be required to absorb Rs23,286.5 crore of debt after the government transfers Rs63,113 crore of debt from Air India and Air India Express ahead of the national carrier’s proposed divestment. At ₹63,113 crore, the amount works out to be three-fourth of the accumulated debt of the two entities, bulk of which is with Air India. It added that the successful bidder shall ensure that Air India and Air India Express continue their business of providing services for at least 3 years. Brand usageSelected bidder shall ensure that the company continues using the “Air India" brand.

Source: Mint January 27, 2020 07:07 UTC