New Delhi: After the Union Cabinet gave a green signal to privatize Air India and its five subsidiaries, Indigo Airlines has shown interest in buying Air India. Low-cost airline IndiGo has formally showed interest in buying a stake in the national carrier, especially in its international operations. On Thursday, Indigo’s president and whole-time director Aditya Ghosh wrote a letter to the civil aviation ministry citing Indigo’s interest to purchase Air India’s international operations.
Civil Aviation Secretary, Mr. RN Choubey said that the national carrier’s stake sale will happen through a tender process. Minister of State Civil Aviation Jayant Sinha said other private players, both domestic and international, also approached the Centre informally to buy stakes in Air India. He, however, refused to divulge any names.
The airline has a total debt of more than Rs 52,000 crore, an annual interest of Rs 4,500 crore and has been surviving on a Rs 30,000-crore bailout package. The panel will decide whether to go for a 100% stake sale in one go or divest gradually. The options of 100%, 74% and 51% stake sale in Air India have been recommended by the Department of Investment and Public Asset Management.