Deals
India to Split Flag Carrier Into Four Parts Ahead of Sale
- Air India, Air India Express to be offered as single company
- Sale should be completed by end of 2018, minister says
This article is for subscribers only.
India will break up its debt-burdened flag carrier into four separate companies and offer to sell at least 51 percent in each of them as part of a disinvestment proposed by Prime Minister Narendra Modi.
The core airline business comprising Air India and Air India Express -- the low-cost overseas arm -- will be offered as one company, and the process will be completed by the end of 2018, Junior Aviation Minister Jayant Sinha said in an interview Monday. Its regional arm, ground handling, and engineering operations will also be sold separately in the same process.