INSUBCONTINENT EXCLUSIVE:
Reports suggest that Air India is currently in debt to the tune of Rs 50,000 crore.New Delhi: National carrier Air India has been assured of
Rs 2,100 crore from the Centre in the form of guaranteed borrowing, Ministry of Civil Aviation Secretary RN Chaubey said on Tuesday
On May 22, Chaubey had said that the option of selling Air India would not be available if the bidding amount ascertained was inadequate
"There are two stages of bidding
The first involves an expression of interest in bidding
The last date for this is May 31
The ones who succeed in this will be asked to present a financial bid
We are seeing a lot of excitement about the sale
However, if the required amount is not met, we will decide whether the sale will take place or not," Choubey told ANI.However, the Ministry
official assured that interest of those employed with the national carrier would be safeguarded at all times.In March this year, the Centre
had appointed Ernst Young LLP India (EY) as its transaction advisor for advising and managing the proposed strategic disinvestment of the
national carrier by way of transfer of management control and sale of 76 per cent equity share capital of the airlines held by the
government.Reports suggest that Air India is currently in debt to the tune of Rs 50,000 crore, and reported a loss of Rs 5,760 crore in