India plans to sell 100pc stake in Air India

India plans to sell 100pc stake in Air India

Air IndiaIndia has granted' in-principle' clearance for AI's strategic disinvestment through the transfer of management control and the selling of AI's 100% equity share capital owned by the Indian Government (GOI).

The equity investments will include AI's 100 percent shareholding interest in Air India Express Limited (AIXL) and 50% in Air India SATS Airport Services Private Limited (AISATS). The GOI has named professional services firm EY to advise and manage the proposed transaction as its transaction advisor.

AI is India's flag air carrier with significant market place in both domestic and international operations. As of the second quarter of the 2020 fiscal year (Q2FY20), AI, together with AIXL, holds approximately 50.64 per cent share of international traffic to / from India among Indian carriers and approximately 18.4 per cent share of global airlines (ex India). As of Q2FY20, the two airlines shared ownership of some 12.7 per cent of the Indian domestic market.

As of July 2014 AI has been a Star Alliance member. AI is one of India's largest flight service providers with network coverage of 98 destinations (56 domestic destinations with around 2,712 weekly departures and 42 international destinations with around 450 weekly departures)as of 1 November 2019.

AI provides 75 additional destinations covered by 25 codeshare arrangements with international carriers through its secondary network of code-share operations. AI transported about 22.1 million passengers during the 2019 fiscal year and reported operating revenues of INR 255.088 million.

AI has an aircraft fleet of 121 aircraft (excluding 4 B747-400 aircraft) as of 1 November 2019, consisting mainly of Airbus and Boeing aircraft such as A-319, A-320, A-321, B-777 and B-787, of which 65 are owned / owned on financial lease / bridge loans, 21 are on sale and buy-back models and balance 35 is on operational contract.

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