Today, 27th January 2020, the Indian government released a 220-page preliminary information memorandum (PIM), beginning the sale process of Air India for a second time. This time however they are offering 100% of the airline, having only offered 76% in the previous offering in 2018.
Within the document it states ‘The Government of India (GOI) has given ‘in-principle’ approval for the Strategic disinvestment of Air India (AI) by way of the transfer of management control and sale of 100% equity share capital of AI held by GOI which will include AI’s shareholding interest of 100% in AI XL and 50% in AISATS. The GOI has appointed Ernst & Young as its Transaction Advisor to advise and manage the Proposed Transaction.’
The full document can be downloaded and read here