The government of India plans to retain a 24 per cent stake each in Air India and its subsidiary Air India Express, reported The Hindu.
The government is also considering divesting 50 per cent of its stake in Air India Sats Airport Services (AISATS). The divestment is to be carried out through an open competitive bidding process.
According to the report, the divestment process is expected to get under way in the next few days when the global invitation for Expression of Interest (EoI) is uploaded on the government’s websites. A clearer picture of the broad guidelines will emerge once this is done.
The government has stipulated a net worth criterion of INR5,000 crore for parties interested in bidding for Air India.
Vinay Dubey, Jet Airways Chief Executive Officer said, “I think we need clarity on what the government’s position is. Once we get more clarity, we will have an opinion.”
Earlier reports have suggested that Air India is being looked at closely by Jet. The Air France-KLM combine is also said to be keen on tying up with Jet Airways to form a consortium to bid for the state-owned airline.
IndiGo had submitted an unsolicited EoI in Air India, soon after the government announcement was made. Turkish company Celebi too showed interest in bidding for the airline’s ground-handling activities, and Gulf based low-cost airline, Air Arabia, has indicated that Air India Express is a good option for it to bid for.
The Centre for Asia Pacific Aviation (CAPA) had, as early as January this year, said that Indian carriers like Jet Airways, IndiGo, SpiceJet and Vistara, and one or two non-airline companies could be interested in the opportunity that a stake in Air India has to offer.
With a fleet of about 140 planes, including 43 owned Airbus A320s and 15 owned Boeing 777s that can fly non-stop to the US and Europe, Air India commands 13 per cent of the domestic and about 17 per cent of the international market share.
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