Air India sale: IndiGo, Etihad show interest in bidding for national carrier

IndiGo and Etihad Airways have evinced interest in bidding for the beleaguered Air India. The debt-laden airline's entire stake has been put on sale by the govt under the proposed disinvestment process. "Representatives from these companies have met govt officials and, unofficially, shown interest in the national carrier. The Tata Group, however, has not shown any interest yet," a source said. Where IndiGo can bid for a 100% stake in Air India, Etihad can own only 49%, according to the current foreign direct investment rules. These norms allow a foreign airline to own up to 49% in an Indian carrier but permit 100% foreign investment in an airline. Hence, Etihad can own a 100% stake in Air India by tying up with either National Investment and Infrastructure Fund or Abu Dhabi Investment Authority. <br/>