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Foreign entity keen on purchasing 49% stake in Air India

Air India

The government’s plans to privatize Air India saw some major developments after the Secretary of Aviation Ministry revealed that a foreign entity has shown keen interest in purchasing 49% stake in the airline company.

He said that a foreign player submitted an unsolicited expression of interest to the government just weeks after the Union Cabinet approved sale of up to 49% of Air India. The offer of purchase had been extended to foreign companies as well.

The name of this interested entity was not revealed by Aviation Secretary RN Choubey. He also refused to tell whether the foreign entity was an airline or some other company, explaining that he would first have to check if they are okay with their identity being revealed at this stage.

Some big foreign players like Singapore Airlines and Qatar Airways have expressed interest in buying the debt-ridden national carrier in recent past. The government is open to allow foreign entities owning stake in Air India, with the condition that the majority share must remain with Indians.

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