New Delhi : Civil Aviation Secretary R N Choubey on Monday said the government could decide against selling state-run Air India if it does not get “adequate” price for it.
“The government has the right to sell or not to sell Air India if the bid price is found to be inadequate,” Choubey said, even as he expressed confidence that ailing airline will fetch a good price.
While the deadline for submission of Expression of Interest (EoI) ends on May 31, the Secretary said the Request for Proposal could be issued after June 15.
He said the highest bidder for the airline would be known by the end of August. But the highest bidder may not be the successful bidder, he said, adding the government intends to complete the disinvestment process by this year end. “Though the transaction advisor (Ernst & Young) will assess the enterprise value, the right price for the airline will be decided by us,” he said.
Meanwhile, the government will consider inviting expression of interest for the remaining four subsidiaries of Air India only after it receives initial bids for the parent, a senior government official said.
“Expression of interest document for arms will only come after interested bidders are shortlisted for Air India in June,” the official said.
