Jet & Co Might Be Lining Up To Bid For Air India As It Tries To Get Out Of Its 51,890 Cr Debt
After successive governments failed to keep the flagship carrier solvent even after billions of dollars of investment, the Indian government gave the go-ahead last year to sell it.
A consortium of Jet Airways, Delta Air Lines Inc and AirFrance-KLM SA is looking to bid for the state-run carrier Air India Ltd, the PTI reports say. India will invite initial bids for a stake sale in Air India over the next couple of weeks, the country¡¯s Civil Aviation Secretary Rajiv Choubey said on Thursday.
After repeated attempts to revive the state carrier, the government failed to keep it solvent and last year the centre nodded for its sale. The government, however, is yet to decide on what to do with the carrier¡¯s $8.5 billion debt.
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Companies including low-cost carrier IndiGo, owned by InterGlobe Aviation, Tata Group and Turkey¡¯s Celebi Aviation Holdings have also expressed an interest in buying some of Air India¡¯s businesses.
