GoM to decide on winning bidder for Air India

Oct 1, 2021
Air India bidding

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Tata Group and SpiceJet’s Ajay Singh have submitted their bids for taking up the cash-strapped provider.

A Group of Ministers (GoM) led by Union House Minister Amit Shah will meet quickly to take a choice on the successful bidder for Air India, a high authorities official stated.

“Air India Particular Different Mechanism [AISAM] will meet quickly to determine,” the official advised The Hindu.

AISAM is the identify given to the GoM headed by Mr. Shah. It consists of Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Aviation Minister Jyotiraditya Scindia.

The assertion signifies that whereas a choice has been taken on who has bagged Air India by the Committee of Secretaries, it’s but to be authorised by the GoM.

Earlier this month, Tata Sons and a grouping led by SpiceJet’s Ajay Singh positioned their monetary bids for Air India.

The federal government will divest its 100% stake in Air India, Air India Categorical and a 50% stake in floor dealing with firm AISATS. The bids for the nationwide provider are being sought at enterprise worth as an alternative of fairness worth as the federal government had modified the bidding parameter for Air India.

As per the plan, 15 per cent of the full enterprise worth must be paid upfront in money to the federal government and the remaining can be used to cut back the debt burden on the airline.


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