Air India divestment: Government looking forward to its logical conclusion

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Minister of Civil Aviation Jyotiraditya Scindia (Photo/ANI)
Minister of Civil Aviation Jyotiraditya Scindia (Photo/ANI)

New Delhi [India], September 16 (ANI): National carrier Air India's divestment bids have been submitted by bidders including Tata Group along with SpiceJet Chairman Ajay Singh in his personal capacity.

Minister of Civil Aviation (MoCA) Jyotiraditya Scindia told ANI on Thursday that the government is very optimistic about the divestment of Air India.

"Bids have been completed. The government is evaluating the technical aspects of the bids received. We are very hopeful," Scindia told ANI.

Earlier, the government sources confirmed that the Tata Group along with Spice Jet promoter Ajay Singh, has put in a financial bid on September 15.

Following completion of the bidding process for the divestment of Air India, Scindia sounded very confident and said that now the process of privatisation of the national carrier will end logically.

"We are looking forward to taking the whole (divestment) process to its logical conclusion," Scindia said.

Since Wednesday was the last day for financial bidding to buy Air India, the Department of Investment and Public Asset Management (DIPAM) is taking the process to the next stage.

"Financial bids for Air India divestment is received by Transaction Adviser. The process is now moving to the concluding stage," Secretary DIPAM tweeted.

Air India is laden with a huge debt of around Rs 43,000 crores, of which Rs 22,000 crores will also be transferred to the Air India Asset Holding Limited. (ANI)

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