Shortlisted bidders for national carrier Air India Limited will have to submit their offer in the next two months as the government hopes to conclude 100% divestment in the airline, civil aviation minister Hardeep Singh Puri said on Saturday.
Speaking to news agency ANI, Puri said, during a meeting to decide on the divestment of the airline on Monday, it was decided that the shortlisted bidders will be have to submit bids within 64 days.
“This time the government is determined and there is no hesitation,” Puri said.
“We’ve decided that Air India will be 100% disinvested. Choice isn’t between disinvestment and non-disinvestment, it’s between disinvestment and closing down. Air India is a first-rate asset but has an accumulated debt of ₹60,000 crore,” he added.
So far, Tata Group and SpiceJet’s chairman and managing director Ajay Singh along with his consortium of Ras Al Khaimah Investment Authority and Bird Group’s Ankur Bhatia have been shortlisted to bid for the carrier, according to media reports.
It must, however, be noted that the government has in its previous attempt failed to sell the cash-strappeairline.
The government aims to complete the privatization of the national carrier in FY2022.