Government to sell 100 per cent stake in Air India; issues bid document
New Delhi:The government issued a preliminary information memorandum on Monday for 100 per cent stake sale in national carrier Air India.
According to the bid document, as part of the strategic disinvestment Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS. The management control of the airline would also be transferred to the successful bidder.
The deadline for submitting the Expression of Interest (EoI) is March 17.
AISATS is an equal joint venture between Air India and Singapore Airlines. It offers ground handling services. Air India has also interests in Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India.
These entities are in the process of being transferred to a separate company -- Air India Assets Holding Ltd (AIAHL) -- and would not be a part of the proposed transaction, the document said.
According to the document, a debt of Rs 23,286.5 crore would remain with Air India and Air India Express at the time of closing of the disinvestment. The remaining debt would be allocated to AIAHL.
EY is the transaction adviser for Air India disinvestment process.
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Road crash in UP leaves 10 dead
Lakhimpur Kheri (UP) (PTI): Ten people were killed when a van collided head-on with a truck on the Sisaiya-Lakhimpur national highway on Monday, police said.
The van was going to Sisaiya from Lakhimpur when the accident took place between Unchgaon and Bharehta villages.
Circle Officer of Dhaurahra, Shamsher Bahadur Singh, said all nine passengers travelling in the van and the driver were killed.
District Magistrate of Lakhimpur Kheri Anjani Kumar Singh told reporters that the van collided with a truck coming from the opposite direction, leading to nine casualties on the spot, while one succumbed to injuries at the district hospital.
Circle Officer, Dhaurahra, Shamsher Bahadur Singh told PTI, "Efforts are on to establish the identity of other deceased persons."
The seven of the deceased have been identified as Jaideep Singh (25), Pawan (23), Sohan (21), Ram Goyal (42), Sahajram (35), Pappu (18), all residents of Bahraich district and Adnan Khan (15), a resident of Lakhimpur Kheri district, police said.
Condoling the loss of lives in the accident, Uttar Pradesh Chief Minister Yogi Adityanath in a post on X, said, "The loss of life in the unfortunate road accident in Lakhimpur Kheri district is deeply distressing and heart-wrenching. My condolences are with the bereaved families."
"I have directed the local administration to provide prompt and adequate assistance to the injured and the victims. I pray to Lord Shri Ram to grant the departed souls a place at His divine feet and to bestow a speedy recovery upon the injured," Adityanath said on X.
Deputy Chief Minister Keshav Prasad Maurya and Brajesh Pathak too condoled the loss of lives in the accident.
"The loss of lives resulting from the road accident in Lakhimpur Kheri district is deeply tragic and heart-wrenching. My deepest condolences go out to the bereaved families," Maurya said.
