Making a key change in Air India disinvestment process, the Government has allowed prospective bidders the flexibility to decide the level of debt they wish to take on along with the loss-laden airline. Previously, the procedure entailed the exercise of combining a fixed level of debt with the carrier after the Centre froze the long-term liabilities to be bundled with the sale at Rs 23,286.50 crore.
In addition, the last date for submission of expressions of interest has been extended from October 30 to December 14. This would give time for potential investors to review the new bid conditions. “The potential bidders have been showing interest for some time so I am reasonably done following suggestions that have come from all the stakeholders in the game,” Civil Aviation Minister Hardeep Singh Puri said on Thursday.
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