New owners of Air India to get planes and US$5b of debt
India is selling a controlling stake in its flagship carrier along with two-thirds of the airline’s about US$7.8b debt, as prime minister Narendra Modi moves ahead with the nation’s most high profile asset sale in decades. The govt will sell 76% of Air India, according to a document uploaded on the civil aviation ministry’s website Wednesday. The airline’s overseas budget carrier will be completely sold in the offer, while the state will sell a 50% stake in the ground handling unit separately. The administration may also ask the buyer to conduct an initial public offering. IndiGo is the only company to publicly disclose a desire to buy Air India’s airline operations -- the most lucrative business that includes prime time slots at airports from New York to Heathrow, as well as bilateral rights to start flights to most countries. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-03-29/star/new-owners-of-air-india-to-get-planes-and-us-5b-of-debt
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New owners of Air India to get planes and US$5b of debt
India is selling a controlling stake in its flagship carrier along with two-thirds of the airline’s about US$7.8b debt, as prime minister Narendra Modi moves ahead with the nation’s most high profile asset sale in decades. The govt will sell 76% of Air India, according to a document uploaded on the civil aviation ministry’s website Wednesday. The airline’s overseas budget carrier will be completely sold in the offer, while the state will sell a 50% stake in the ground handling unit separately. The administration may also ask the buyer to conduct an initial public offering. IndiGo is the only company to publicly disclose a desire to buy Air India’s airline operations -- the most lucrative business that includes prime time slots at airports from New York to Heathrow, as well as bilateral rights to start flights to most countries. <br/>
