Govt targets to sell Air India by June 2022

New Delhi: The government is all set to invite financial bids for selling Air India, a government-owned loss-making PSU. According to a report by Live Mint, the people familiar with the matter have confirmed that the Modi Government is moving toward the sale of the airline, which is surviving on taxpayer money. As per the report, the bidders would have 90 days to submit their financial offer from the date of request. Earlier, the government had made two attempts to sell the loss-making airline, but couldn’t attract any buyers.

“The government is planning to complete the privatisation process in June, with financial bids set to be in by the first week of that month," it added.

As per some local media reports, India’s Tata Group and SpiceJet Chairman Ajay Singh have been shortlisted to bid for Air India. An invitation for financial bids will be progress for Modi, who has failed previously to sell the enterprise that has been rescued by the government multiple times in the past decade. “The security clearance for the shortlisted bidders will proceed simultaneously after the government invites financial bids,” the report added.