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Jet Airways not to participate in Air India's divestment process

IANS  |  Mumbai 

on Tuesday said that it will not participate in the divestment process of national carrier Air India.

"We welcome the government move to privatise Air India. It is a bold step.

"However, considering the terms of offer in the information memorandum and based on our review, we are not participating in the process," Amit Agarwal, Deputy CEO and CFO, was quoted in a statement.

The development assumes significance as it comes days after another on April 5 had said that it will not bid for Air India under the "current divestiture plans".

had never officially said that it was interested in Air India, but had earlier expressed its interest in the acquiring Air India's international operations and (AIXL).

The has invited "Expression of Interest" to off-load 76 per cent stake and management control of the

On April 5, IndiGo's had said: "From day one, has expressed its interest primarily in the acquisition of Air India's international operations and However, that option is not available under the government's current divestiture plans for Air India.

"Also, as we have communicated before, we do not believe that we have the capability to take on the task of acquiring and successfully turning around all of Air India's operations," Ghosh said in response to queries from investors regarding IndiGo's involvement in the upcoming divestiture of Air India.

On March 28, the government issued the Preliminary Information Memorandum (PIM) for the strategic divestment of AI, along with the airline's shares in and (Air India SATS Airport Services).

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 10 2018. 22:42 IST
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