New Delhi: The government airline company Air India is stuck in a debt of more than 69 thousand crores. Now Air India Employees have come forward to save it. A group of senior employees of the company participated in the bid to buy Air India. This group of 209 Air India employees has bid to buy a 50 per cent stake in the government airline in partnership with Interups Inc, a US-based private equity firm. Laxmi Prasad, the chairman of Interapps, has confirmed this.
Pilot-cabin crew organizations advised staying away from bid
Every person in the group of senior employees of Air India will contribute one lakh rupees for the bid. If everything goes well, then this will be the first case in the corporate history of the country, when its own employees will buy a government company. However, organizations representing the pilot and cabin crew have advised their members not to participate in the employee bid. The bidding process is being led by the Commercial Director of Air India Meenakshi Malik. According to them, the old employees will fully support this campaign. More than 200 employees involved in this campaign are raising Rs 1 lakh each. Air India has a total of 14 thousand employees.
Date of declaration of shortlisted bidders extended
The deadline for bidding for Air India has ended today i.e. September 14. Meanwhile, there were reports that Tata, Adani and Hinduja have shown interest in buying it. However, officially none of them have said so. Explain that the government has not extended the deadline for bidding for Air India. However, the government has extended the Intimation Date for the bidders for Air India to 5 January, which was earlier till 29 December. This is the date of announcement of the names of the shortlisted bidders. Physical bids should be in place by 29 December.
The government is selling its 100% stake in Air India
The government has invited bids to sell its 100 percent stake in this Air India. Also, a 100 percent stake of Air India will be sold in Air India Express Limited. 50 percent stake in Air India SATS Airport Services Private Limited to be sold. In a document expressing interest for Air India by Deepam, on 31 March 2019, the total debt on Air India has been stated to be Rs 60,074 crore. Of this, its buyer will have to bear Rs 23,286.5 crore, while the rest of the loan will be transferred to Air India Asset Holdings Limited, created for a specific purpose.
