AIR India privatisation: Civil Aviation Minister Hardeep Singh Puri makes big announcement, says financial bids to be completed in these many days

AIR India privatisation: After Zee Business last week reported that the government shortlisted Tata Group and SpiceJet for acquiring the state-owned public carrier, Union Civil Aviation Minister Hardeep Singh Puri ha made big announcement concerning Air India privatisation date.  

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Civil Aviation Minister Hardeep Singh Puri on Saturday told news agency ANI stated that the privatisation of Air India is likely to be completed by the end of May. 

"At a meeting on Monday, it was decided that the government will close the financial bids within 64 days," Puri said, adding that there were multiple bidders and some have been shortlisted. 

Other Public sector undertakings (PSUs) like Pawan Hans disinvestment is also under process, the minister added. 

"The airline still is in debt of Rupees 60,000 crore and it is liable to be sold," Puri further said. 

The minister also said that the second wave of COVID-19 has delayed airlines being allowed to operate 100 per cent that was planned to happen from the start of the summer schedule this month-end. 

But for now, there are no questions to curtail the domestic operations, he added. 

He further said that flights are the safest mode to travel, adding that the authorities have taken cognisance for defaulters who are not following COVID-19 protocol on board. 

Talking on the expansion of the terminal building of the Gorakhpur Airport, Puri said the civil aviation ministry is making profits from the tier 2-3 airports in the country and Gorakhpur is one of them. 
Uttar Pradesh Chief Minister Yogi Adityanath will lay the foundation stone for the expansion of the Mahayogi Guru Gorakhnath Airport terminal building on Sunday. 

Earlier on March 22, In a chat with Zee Business Managing Editor Anil Singhvi, Executive Editor Swati Khandelwal had revealed that only Tata Group and SpiceJet will go into next round of bidding. "Tata Group and SpiceJet had given their expression of interest, which have been accepted by the government, facilitating Air India acquisition process. Soon they will be given invitation for financial bids. Before that due diligence, which will begin in couple of weeks, will be taken care of. This process may take 2 to 3 months," had said Swati Khandelwal citing sources.