What's the offer?
In its recent development, Central Government on Monday issued the preliminary bid document for 100 percent stake in the debt-laden airline along with fixing the debt amount for prospective bidders and easing the bidding norms. As part of the ambitious strategic disinvestment, Air India would sell its cent percent stake in profit-making budget carrier Air India Express as well as 50 percent shareholding in equal joint venture Air India SATS Airport Services (AISATS). All three entities would be sold together and management control of the national carrier would be transferred to the new investor. Let's have a look as to what buyers will get from this deal!
What's in for the buyer?
Going by the recent announcement, the Union Government has proposed to waive off liabilities worth nearly 40,000 crores to sweeten the deal. Buyers will be entitled to get a total of 146 aircraft, out of which 56% are under the airline group while the rest are leased.
At present, there are 4,400 airport slots in India and 3,300 in 42 foreign countries, which will be available for at least 6 months after the sale is completed. Air India holds 50% of the market share of international operations served by the Indian carriers.
What will be the employee perks?
Air India has 9,617 permanent employees (including pilots and cabin crew with deep technical and operational expertise). Employee perks like free travel and medical facilities, along with an annual estimate of expenses incurred on them will be up for the grabs along with airline's brand as well as the famous 'Maharaja' and 'Flying Swan' logos. Data room and draft share expenses can be accessed in the first round.
