The process is likely to be completed by May or June, he said. Bloomberg reported on the plan earlier Friday, citing people familiar with the matter. “It’s a question of taking the decision and handing over the airline,” Puri said, without giving details of the bidders who made the initial shortlist.
Tata Group and SpiceJet Chairman Ajay Singh have been shortlisted to bid for the carrier, media reported this week. An invitation for financial bids will be a progress for Modi, who has failed previously to sell the enterprise that has been rescued by the government multiple times in the past decade.
The government loses Rs 20 crore everyday on the carrier, Puri said. Air India’s cumulative debt stood at Rs 60,000 crore, he said.
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