Govt bites the bullet on Air India, but high debt, other bid conditions could make disinvestment a bumpy ride
Keeping over Rs 33,000 crore debt on the books of the two airlines on offer could be the biggest hurdle to this stake sale.
Hotel Corporation of India, AI Engineering Services and Alliance Air remained loss making in 2016-17, according to estimates submitted in Parliament on Thursday
The plan is being prepared amid the government working on a road map for disinvestment in Air India, the debt laden parent of the low-cost carrier which remains bullish on growth prospects.
Air India is looking for a COO who must be an ex-pilot. The job does not involve day-to-day operations of the airline.