Air India - shall become private airliner by the end of 2018 said Jayant Sinha, Union Minister. The central government's own airliner carrier has always been on the headlines for the loss it is making year after year, delay in the flight-schedule is now finally going to go private leaving a legacy of fly-by-Maharaja Air-India to History.
Union government shall call for tenders sell Air-India, 51 percent will be with the private buyers as an investment, thereby will have a say in the operations.
By June 2018 the bidder shall be notified, legal processing is complete by December 2018.Air India airline will be operated by the bidder, by getting the transfer of titles, deeds, transfer of assets with security clearance.
Two bidders, one is IndiGo another a foreign investor not yet disclosed have shown interest in investing in Air India.
Mr.Sinha said that 51 percent of the assets will be transferred to the private sector, controlled by them is a strategic move for dis-investment as decided by the group of Ministers headed by Arun Jaitley, are working out the terms of sale.
Air India Express, a subsidiary meant to cater people who cannot afford regular fare will become one entity with AISATS, Alliance Air shall be another entity.
Looking for a bailout, the airliner needs a fund of Rs.31,000 crores approximately, Rs 26,000 crores have been pumped in to save the airliner, since 2112.Air India has accumulated a loss of Rs.50,000 crores.
Hammer and tongs may go on many Central Public Sector Undertakings soon.