The government which owns 100% stake in low-cost international air carrier subsidiary Air India Express, has invited bids to sell 76% of its stake. Bids have also been invited for the sale of 50% stake of Air India in AISATS. Air India and Singapore Airport Terminal Services (AISATS) is a ground handling subsidiary of which AI has a 50% stake.
Advertisements have been issued by the government for Expression of Interest (EOI) today from companies or consortium with a net worth of Rs 5,000 crore.
In order to facilitate the participation of Indian carriers, the government has also allowed carriers with zero or negative net worth to participate in the bidding if they form a consortium or partnership with other carriers or private equity investors to add up to the threshold.