Major blow to Air India

According to reports, the government has planned to sell 76% equity share of Air India and also to transfer the whole management control. To sell the loss-making carrier, the Civil Aviation Ministry has sought Expression of Interest (EoI).

The management or employees of Air India can participate in the bidding process. Ernst & Young LLP India has been appointed as transaction adviser for the process. The transaction will involve Air India, its low-cost arm Air India Express, and Air India SATS Airport Services Pvt Ltd.