India Puts National Airline Up For Sale
The Indian government has approved the sale of 76 percent of the country’s flag carrier Air India.
An information memorandum issued by India’s Ministry of Civil Aviation said the government had given ‘in-principle’ approval for the sale, which includes Air India Express and the airline’s 50 percent stake in ground handler Air India SATS Airport Services.
The memorandum states that Air India Engineering Services, Air India Air Transport Services and Airline Allied Services are not part of the sale and will be moved into a separate company.
Hotel Corporation of India which owns two hotels and provides airline meals at Delhi and Mumbai airports is also not included in the sale.
Air India serves 54 domestic and 39 international destinations and has been loss-making for many years. Bidding closes on May 14.