- Last date for bidding for Air India by 17 March
- The net worth of the bidders should be Rs 3,500 crore
- Air India loan of more than 80 thousand crores
- Air India had a net loss of Rs 8,556 crore in 2018-19.
The Modi government has made a big announcement regarding the acquisition of Air India. Union Minister Prakash Javadekar said that non-resident Indians (NRIs) can also be fully acquired (100%) of Air India. Earlier this limit was 49 percent for NRIs. After the first attempt to sell Air India in 2018 was unsuccessful, the central government has decided to sell its entire stake this time. In 2018, the government decided to sell a 76 percent stake in the airline.
Currently, #FDI in #AirIndia is capped at 49 per cent. A report had suggested that the civil aviation ministry has approached Department for Promotion of Industry and Internal Trade (DPIIT) for removal of the cap.https://t.co/UKGkCLDIQ3
— Economic Times (@EconomicTimes) March 4, 2020
