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'EoI for Air India stake sale in next couple of weeks'

Press Trust of India  |  New Delhi 

The Expression of Interest document for disinvestment is expected to be ready in the next couple of weeks after resolving "certain complications", civil aviation R N Choubey today said.

With the government moving ahead with the proposed disinvestment, he also emphasised the government would like to protect the interest of employees.

About EoI, Choubey said it may take a couple weeks for the civil aviation ministry to complete the process.

"There are certain complications which we need to resolve and take it forward with the objective of maximising the competition. We are working on that and we expect that in the next couple of weeks it should be possible for us to get a good EoI in the public domain," he noted.

To a query about a consortium of Jet Airways, and likely to bid for Air India, Choubey said there is no formal or informal communication so far in this regard even as he added, "we will be happy to maximise the competition".

Sources had told that along with and are interested in participating in disinvestment.

While a group of ministers are still in the process of finalising the contours of stake sale, the civil aviation ministry has so far said that officially it has received expression of interest from at least no-frills carrier and an unidentified foreign

In June 2017, the (CCEA) gave its in-principle nod to the strategic disinvestment of the airline, which has a debt burden of over Rs 50,000 crore.

Subsequent to the decision, the Air India Specific Alternative Mechanism (AISAM), headed by Arun Jaitley, was set up to decide on specific issues.

The national carrier is staying on taxpayers' money under the turnaround plan approved by the previous in 2012.

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

First Published: Mon, March 12 2018. 19:55 IST