Disinvestment of Air India and Pawan Hans would be completed in 2021-22, Finance Minister Nirmala Sitharaman said on Monday while presenting the Union Budget in which Rs 3,224 crore has been allocated to the Civil Aviation Ministry for the next fiscal year.
Air India is currently undergoing disinvestment process. Multiple entities submitted their expression of interest (EOI) for the carrier in December. The government is likely to reveal the names of qualified bidders in the coming weeks.
Air India Asset Holding Ltd, a special purpose vehicle (SPV), was set up in 2018 as part of the financial restructuring of the debt-laden national carrier. In the Budget for 2021-22, Rs 2,268 crore is proposed to be allocated for the SPV.
Air India’s Disinvestment Process To Be Completed In 2021-22: Finance Minister Nirmala Sitharaman
While presenting the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the Centre has allocated Rs 2,268 crore for a special purpose vehicle set up as part of financial restructuring of Air India
Representational Image Outlook Web Bureau 2021-02-01T16:02:10+05:30 Air India’s Disinvestment Process To Be Completed In 2021-22: Finance Minister Nirmala Sitharaman outlookindia.com 2021-02-01T16:04:10+05:30
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During her budget speech on Monday, Finance Minister Nirmala Sitharaman announced that disinvestment of Air India will be completed in 2021-22 and said that the Centre has allocated Rs 2,268 crore for a special purpose vehicle set up as part of financial restructuring of the debt-laden national carrier.
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Air India disinvestment to be completed in 2021-22; Rs 3,224 crore allotted to aviation ministry
Disinvestment of Air India and Pawan Hans would be completed in 2021-22, Finance Minister Nirmala Sitharaman said on Monday while presenting the Union Budget in which Rs 3,224 crore has been allocated to the Civil Aviation Ministry for the next fiscal year. Air India is currently undergoing disinvestment process. Multiple entities submitted their expression of interest (EOI) for the carrier in December. The government is likely to reveal the names of qualified bidders in the coming weeks.
Air India Asset Holding Ltd, a special purpose vehicle (SPV), was set up in 2018 as part of the financial restructuring of the debt-laden national carrier.
The government is likely to reveal the names of qualified bidders in the coming weeks.
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NEW DELHI: Disinvestment of Air India will be completed in 2021-22, Finance Minister Nirmala Sitharaman said in her budget speech on Monday and allocated as Rs 2,268 crore for a special purpose vehicle set up as part of financial restructuring of the debt-laden national carrier.
Air India is currently under disinvestment process.
Multiple entities submitted their expression of interests (EOIs) for the carrier last month.
The government is likely to reveal the names of qualified bidders in the coming weeks.
With Tatas in the run, will Modi government’s plan to sell Air India take off this time?
Even as things are looking up now, experts had earlier said that the Centre’ measures to make the airline attractive to the investors were not up to the mark. Air India had witnessed a failed divestment attempt in 2018. | PTI
After multiple failed attempts, the Narendra Modi government is finally seeing some hope of selling the country’s debt-riddled national carrier. But there still could be many a slip between the cup and the lip.
On December 14, the government said it had received multiple interests for strategic investment into Air India. The bidders reportedly include one of India’s biggest conglomerate Tata Sons as well as a joint venture of Air India employees and United States-based investment firm Interups.