The Union government on Monday invited bids for 100% stake sale of Air India (AI) and transfer of management control along with its complete share in two subsidiaries-low-cost international carrier Air India Express and ground-handling arm AISATS. Air India and Air India Express are a great asset”. The liabilitiesBut the private player keen to buy Air India will also have to take on liabilities of Rs. After the sale is over, government employees will no more be required to travel mandatorily by Air India to seek a full refund. The bid document also states that the existing FDI (foreign direct investment) policy, which allows a foreign airline to buy upto 49% in Air India will continue to apply.

Source: The Hindu January 27, 2020 03:44 UTC