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IndiGo eligible to go solo in Air India bid, may meet net worth condition

Can have controlling stake of 76%, other domestic airlines will be able to own only 39%

Aneesh Phadnis & Surajeet Das Gupta  |  Mumbai/ New Delhi 

Budget carrier IndiGo will be able to bid solo for Air India’s 76% stake, while other domestic airlines will have to form a consortium to meet the net worth criteria stipulated by the government. The airlines bidding as part of a consortium will also be restricted to owning 51% in the partnership.

This means such an airline will effectively hold 38.76% in Air India as the government will be retaining a 24% stake in the airline. The information memorandum for the sale of a 76% stake in Air India stipulates that bidders must have a minimum net worth of Rs 50 billion, and net ...

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First Published: Fri, March 30 2018. 07:01 IST
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