Will the Minister of CIVIL AVIATION
be pleased to state:-
(a) whether the Government is committed to the privatisation of Air India by this Fiscal 2021-22; and
(b) if so, the present status and strategic transaction therein including the assets of Air India and sell process towards revival proposal, if any?
Minister of State in the Ministry of CIVIL AVIATION
(GEN. (DR) V. K. SINGH (RETD))
(a) and (b): The Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EOI) for strategic disinvestment of 100% stake of Government of India in Air India along with 100% stake in Air India Express Ltd and 50% stake in Air India SATS was issued on 27.01.2020. Due to the COVID-19 pandemic, the last date for submission of EOI was extended from time to time. The last date for submission of EOI was 14.12.2020. Multiple Expression of Interests (EoIs) were received by Transaction Advisor. The EoIs were evaluated by the Transaction Advisor for selection of Qualified Interested Bidders (QIBs). Request for Proposal (RFP) along with draft Share Purchase Agreement (SPA) have been shared with QIBs by the Transaction Adviser on 30.03.2021 for submission of financial bids. The financial bids are likely to be received by 15.09.2021.;
Air India has movable as well as immovable assets. With disinvestment of Air India Limited, the movable assets are proposed to be transferred to the new owner of Air India. Immovable assets are being monetised by Air India to offset the debt of Air India Limited.