In its second attempt to sell Air India, the central government has put the divestment process on the fast track. Sources close to the development said the expression of interest (EoI) for divestment of Air India may be out by October.
After the Modi government came to power for the second time, it decided to once again go ahead with the divestment of the government’s stake in debt-laden national airline Air India. After the firm decision by the government, Union civil aviation minister fast-tracked the whole process. Sources said that the financial books of Air India have been closed.
Air India’s financial books closure date is July 15, 2019, which means that the finances of Air India, in terms of revenue and expenditure up to July 15 will be taken into account as a base for preparing the Expression of Interest document. Read More