Reports say that there Indigo had expressed interest in buying the stake in the national airline.
Air India: I do not have the courage to take the troubled airline, said Anand Mahindra.
Mahindra Group chief Anand Mahindra said on Thursday he was not strong enough to buy Air India.
Mahindra’s comments came a day after the Center said the privatization of the national company in difficulty, which has a debt of about Rs 52 billion rupees.
“I see myself as a person rose,” the industrialist said on Twitter. “But I have to admit … I do not have much value.”
Air India who survived a rescue package of Rs 30,000 crore released by the government of the United Progressive Alliance in 2012. Received Rs 24,000 crore so far.
On Wednesday night, the Union Council of Ministers has given the green light for the privatization of the national airline and its five subsidiaries.
With approval “in principle”, a group of ministers now decide the final terms of the sale.
“How many will be disinterested, so the process, their assets and liabilities and their hotel companies, will be deliberate,” said Finance Minister Arun Jaitley.
The panel will decide whether to go for a 100% share sale at a single time or gradually give way.
The stock options of 100%, 74% and 51% shares in Air India have been recommended by the Department of investment and management of public goods.
On June 22, Vice President Niti Aayog Arvind Panagriya said that the government was likely to act on the privatization of the national carrier Air India within six months.
Panagriya stated that the airline’s debt was “simply not sustainable.”
IndiGo private airline has expressed interest in buying a stake in Air India, NDTV said.
Reports from previous media had suggested that the Tata Group could be a potential bidder.
The group, which owned the company before its nationalization, has not confirmed this.
Meanwhile, Air India warned its former employees of “serious consequences” such as eliminating post-retirement benefits if they are against the airline in social networks, PTI reported.
“It is unacceptable that a person using post-retirement facilities such as Past, Medical, etc. Air India would speak against the company.
To cease making such negative comments in order to tarnish the image of the company itself will be responsible for the termination of its facilities after retirement, “an internal order issued by Air India on June 21 with the approval of its president and Its chief executive Ashwani Lohani said.
“It has been observed in the recent past that some employees of the Air India Retreat eat the corporate image by posting negative comments from the company on social networks like Twitter, Facebook and Whatsapp and also electronics and print media.” Said order