Tag: aviation ministry

The government will select the winner in Air India’s disinvestment in about three weeks and two high-level committees will finalise the reserve price for the national carrier within this period. The reserve price of the carrier will be soon decided by the inter-ministerial group (IMG) headed by the secretary, Department of Investment and Public Asset Management (DIPAM), based on the inputs from government-appointed valuers. The Core Group of Secretaries on Divestment (CGD), chaired by the cabinet secretary, will then consider the IMG’s recommendation. The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline. This process is being targeted to be completed in three weeks, said a top government official. The security clearance of the bidders who have shown an interest by placing financial bids is underway, he added. Read more

The aviation ministry is preparing to sell its stakes in companies that operate airports in Delhi, Mumbai, Bengaluru, and Hyderabad, a move that will help achieve the government’s target of raising ₹20,000 crores from monetisation of assets in FY22. The ministry has started the process to fetch approvals, including those from the cabinet, to speed up the sale process. “The aviation ministry has an asset monetisation target of ₹20,000 crores for FY22. While privatisation of airports will contribute to that target, this move could become the largest contributor,” said an official who did not want to be named. Read more