With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, as per some news reports.
According to some media reports, the group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and that the discussions are still in the preliminary stage.
Air India is one of the most important divestment targets for the current fiscal to reach a huge Rs 2.1 lakh crore target.
The government in January restarted the divestment process of the airline and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India”s 100 per cent shareholding in AI Express Ltd. and 50 per cent in Air India SATS Airport Services Private Ltd.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake. In 2018, it had offered to sell its 76 per cent stake in the airline.
Of the total debt of Rs 60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs 23,286 crore.
Air India, along with its subsidiary Air India Express, has a total operational fleet of 146 aeroplanes.