Government confident on getting a new buyer for Air India, says Aviation Minister Hardeep Puri | Companies News

New Delhi: Civil Aviation Minister Hardeep Singh Puri on Monday stated that many possible traders have instantly approached the aviation ministry and proven curiosity for taking up the corporate. He added that the federal government stays confident that this time Air India will discover a new buyer and divestment for sure will occur.

Addressing a press convention, Puri knowledgeable that authorities has performed eight roadshows to hunt the pursuits of possible traders for Air India globally within the final two months. He additional assured that Indigo Airline – boardroom points will not influence the efficiency of the airline. 

Puri stated that that complete quantity debt on Air India is of Rs 23000 crore and the ministry has obtained a lot of Interests for Air India. Giving the worker information, Puri stated that the entire worker power of AI is 17984 out of which 9617 are everlasting workers. He additional assured the workers that workers dues with arrears will probably be paid by the Air India property holding firm earlier than the closing of the proposed transaction and three% of fairness share of Air India to be given to Air India workers. 

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The aviation ministry additionally knowledgeable that any firm which takes over AI will proceed to make use of the flag and mark of the corporate.  The authorities has fastened February 11 because the final date for submission of queries and the final date of responding to them on February 23. 

The Ministry additionally knowledgeable that identification of the bidder for Air India to be accomplished inside this monetary yr and if a international airline bids for AI, they must observe the framework of current FDI coverage. 

Air India has complete property price  Rs 17000 crore and the liabilities to be retained in Air India will probably be of Rs 8771.5 crores. The liabilities is not going to embrace lands, artefacts, work acquired by Air India and contingent liabilities as a result of retired workers will probably be clarified on the EOI stage.

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