Air India sale: India Govt in discussion with 9 companies including IndiGo and Tata Sons

NEW DELHI: Officials from India have met almost nine companies during roadshows to determine interest in a stake sale in Air India.

Officials have met appointees of companies such as IndiGo, SpiceJet Ltd, British Airways parent IAG SA and Tata Sons Ltd.

Air India, which started as Tata Airlines in 1932 and later obtained by the government, hasn’t made money since 2007.

The airline posted a loss of $1.2 billion last year - its highest ever - and has $8.4 billion as dues.

Air India has some profitable estates which include prized slots at London’s choked Heathrow airport, an armada of more than 100 planes and 1000 trained pilots and crew.

Aviation Minister Hardeep Singh Puri told the Indian parliament in November "the airline will have to shut down if they can’t find a buyer."

National carrier Air India has alerted the public against fake social media play and websites using the airline's registered trademark presenting as its agents and offering jobs. "It has come to our notice that some miscreants are using our brand name & identity to extract confidential bank & personal details from passengers. Claiming to represent Air India, they are also demanding money in exchange for a job. We request all to exercise caution," Air India said in a tweet.

The government has decided to almost completely exit the airline saying the financial support being provided to the airline could be put to better use such as building social infrastructure.

This will be the second attempt by the Modi government to disinvest Air India as it failed to get any bid from private parties during the initial stake sale process last year.

Last year, the government has decided to ease terms of sale for Air India but it was still facing a tough choice on almost half a dozen issues that could be crucial for the airline’s successful disinvestment.

Also Read: Air India Spends Generously, Hires Expensive Publicist Ahead Sell-Off

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