Any entity having adequate finances and ability to run Air India can bid for 76 per cent stake in the national carrier, department of investment and public asset management (DIPAM) secretary Neeraj Gupta said on Thursday.<\/p>\n
The government had last month floated a preliminary information memorandum inviting bidders to buy 76 per cent stake in loss-making Air India along with transfer of management control.<\/p>\n
An official in the finance ministry said there has been good response from entities in the airline industry as well as corporates for buying stake in the debt-ridden national carrier.<\/p>\n
\u201cWe are not looking for only an airline to take over Air India… Anybody who has (required) net worth and funds can bid for Air India,\u201d Gupta said at an Assocham event in New Delhi.<\/p>\n
The DIPAM secretary said the government has kept financial capacity of the bidder as the main criteria for disinvestment of Air India. The bidder should also have the ability to run the national carrier.<\/p>\n
As per the bid document, bidders would be required to have a minimum net worth of Rs 5,000 crore and should have posted profit after tax (PAT) in three of the previous five financial years from the Expression of Interest (EoI) deadline. The last date for submission of the bids is May 14.<\/p>\n
The entity acquiring the domestic carrier will have to retain the \u2018Air India\u2019 brand for AI\u2019s business operations for a minimum specified number of years on terms to be detailed at request for proposal (RFP) stage.<\/p>\n","protected":false},"excerpt":{"rendered":"
Any entity having adequate finances and ability to run Air India can bid for 76 per cent stake in the national carrier, department of investment and public asset management (DIPAM) secretary Neeraj Gupta said on Thursday. The government had last month floated a preliminary information memorandum inviting bidders to buy 76 per cent stake in […]<\/p>\n","protected":false},"author":1,"featured_media":28513,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-28512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/28512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=28512"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/28512\/revisions"}],"predecessor-version":[{"id":28514,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/28512\/revisions\/28514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/28513"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=28512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=28512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=28512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}