Govt to divest 76% stake in Air India invites private entities

New Delhi, March 28: The central government has invited 'Expression of Interest' to divest 76 per cent stake in the national passenger carrier Air India (AI).

The development follows the issue of Preliminary Information Memorandum (PIM) which invited "Expression of Interest" for the strategic divestment of AI, along with the airline's shares in AIXL (Air India Express) and AISATS (Air India SATS Airport Services) from private entities including the airline's employees.

The central government owns 100 per cent equity of Air India. In turn the airline has a cent per cent stake in Air India Express, while it holds 50 per cent stake in the joint venture AISATS.

"The Government of India has given 'in-principle' approval for the strategic disinvestment of AI by way of the transfer of management control and sale of 76 per cent equity share capital of AI held by GOI, which will include AI's shareholding interest in the AIXL and AISATS," said the PIM document.