September 18, 2019 / 1:02 PM / a month ago

India open to selling part of Air India to foreign airline: sources

FILE PHOTO: An Air India plane carrying Indian Prime Minister Narendra Modi arrives at Qingdao Liuting International Airport for the 18th Shanghai Cooperation Organization (SCO) Summit in Qingdao city, Shandong province, China June 9, 2018. Wu Hong/File Photo

NEW DELHI (Reuters) - India’s government is open to selling a partial stake in debt-laden state-run carrier Air India to a foreign airline, people familiar with the matter said on Wednesday.

The government has moved about 300 billion rupees ($4.21 billion) of Air India’s debt to a separate holding company, leaving the carrier with roughly another 300 billion rupees of debt, the people said.

The government will also likely invite preliminary bids for the carrier by Oct. 10, the sources added.

Reporting by Aftab Ahmed in New Delhi; Writing by Sachin Ravikumar; editing by Uttaresh.V

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below