Foreign player keen on 49% Air India stake: Aviation secy

A foreign player has expressed interest in acquiring 49% of soon-to-be-privatised Air India. Aviation secretary R N Choubey said this company has given an "unsolicited expression of interest for AI's airline arm." While the identity of this player and whether it is an airline is not being revealed at the moment, Singapore Airlines (SIA) is among the foreign players that are looking at AI's disinvestment process with interest. Its JV airline with Tatas, Vistara, has an "open mind" for AI if it makes business sense. "SIA is very keen on AI," said a person in the know. Qatar is the other global biggie that wants to start a domestic carrier in India and has for long wanted to pick up a stake in IndiGo. Incidentally IndiGo has given a formal expression of interest for AI's airline arm. "As of now it will not be possible to say who this foreign player is and whether it is a foreign airline or some other company. We need to check with them if they are okay with their identity being revealed at this stage," said a senior ministry official. However it is likely that the foreign player is an airline as government had earlier this month allowed foreign airlines to invest up to 49% in Air India, with the condition that AI's substantial ownership and control remains with the Indian partner and Indian nationals. Sources say at the moment, Tata-SIA and IndiGo are the main contenders for AI's airline arm.<br/>