Air India made cash loss of Rs 3,600 crore in FY 2019-20: Rajiv Bansal
The Union Civil Aviation Ministry confirmed Air India s second phase of the strategic disinvestment from January 5, 2021. The process will begin with the announcement of the names of the qualified bidders.
Air India flight carrying Indians from Diamond Princess (Image - Twitter/@MEAIndia)
Air India s chairman Rajiv Bansal on December 29 said that the disinvestment-bound national airliner made a cash loss of Rs 3,600 crore in FY 2019-20.
Maintaining that the loss was much less than FY 2018-19, Bansal stated transporting stranded Indians from overseas since the start of the COVID-19 pandemic has resulted in sequential improvement in its income this financial year.
The second phase of the strategic disinvestment of Air India will start on January 5, 2021 with the announcement of the names of the qualified bidders. The process has been divided into two stages. In stage I, expressions of interest (EoI) have been submitted by interested bidders and they will be shortlisted based on eligibility criteria and other terms mentioned in the Preliminary Information Memorandum (PIM). In the stage II, shortlisted interested bidders will be provided with a request for proposal (RFP) and thereafter there will be a transparent bidding process, said a presentation by the ministry. In view of prevailing situation arising out of Covid-19, last date for submission of EOIs was extended upto December 14, 2020.
Air India Strategic Divestment: Phase-II To Begin From 5 January, Names Of Qualified Bidders To Be Announced
Air India Aircraft
The second phase of the strategic disinvestment of Air India will start on 5 January 2021 with the announcement of the names of the qualified bidders.
The process has been divided into two stages. In stage I, expressions of interest (EoI) have been submitted by interested bidders and they will be shortlisted based on eligibility criteria and other terms mentioned in the Preliminary Information Memorandum (PIM).
In the stage II, shortlisted interested bidders will be provided with a request for proposal (RFP) and thereafter there will be a transparent bidding process, said a presentation by the ministry.
Phase-II of Air India disinvestment to start Jan 5 daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
Air India asks employees who submitted EOI to stay away from policy matters
After its unsuccessful attempt to sell Air India in 2018, the government in January this year restarted the divestment process
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A group of Air India employees who have submitted an expression of interest (EOI) for the carrier should only do day-to-day work and not handle policy or strategic issues that may have a bearing on the airline s disinvestment plans, according to an official order seen by PTI.
The group of 219 Air India employees, led by its Commercial Director Meenakshi Malik, had partnered with a private financial institution and submitted an EOI for the carrier on Monday.