India Government issues EoI for divestment of Air India, Air India Express and AISATS

    India‘s Ministry of Civil Aviation (MoCA) issued (27-Jan-2020) a preliminary information memorandum inviting EoI for the divestment of 100% of the government’s stake in Air India, 100% of its stake in Air India Express and 50% of its stake in Air India SATS Airport Services PVT Limited (AISATS). MoCA listed the following details for potential bidders:

    • Air India and Air India Express have a combined fleet of 146 aircraft, including 82 owned aircraft;
    • Air India network comprises 98 destinations, including 42 international destinations;
    • Air India and Air India Express have a combined 17,984 employees, including 9617 permanent employees;
    • AISATS has 11,958 employees;
    • Air India debt will be frozen at INR232.9 billion (USD3.3 billion).

    The deadline for the submission of EoI is 17-Mar-2020.