Air India, a debt-ridden state-run airline, is set to get a new owner this time. Civil Aviation Minister Hardeep Singh Puri (Civil Aviation Minister Hardeep Singh Puri) today said that the government has decided to sell Air India completely (100% disinvestment). He said that the government has no option but to privatize it or shut it down.
Puri said, “We have decided that 100 per cent of India will be privatized. It does not have the choice of privatization or non-privatization. The government has no option but to disinvest or close it. Air India is a first class asset but the company has a debt of 60 thousand crores. We have to overcome this situation. In the last meeting held on Monday, it was decided that the shortlisted bidders would be told that there would be 64 days for the bid. This time the government is fully committed and there is no dilemma in it.
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Who are in the competition The Tata Group and Spicejet promoter Ajay Singh (Ajay Singh) have been shortlisted for bidding for the purchase of Air India. According to sources, the Tata Group and Ajay Singh will have to submit financial bids after making necessary investigations on the accounts, agreements and liabilities of Air India. In the financial bid, they will have to tell how much Air India’s debt they want to bear and how much will be paid in advance. Whichever of the two will quote the highest economic value for Air India in their bids will win the bid. At least 15% of the enterprise value of Air India will have to be paid in cash. The rest can be kept as debt.
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