Government targets selling Air India by May or June

• Tata Group and SpiceJet promoter Ajay Singh are among the frontrunners in the bid to take over the national carrier
• Civil Aviation Minister Hardeep Singh Puri said that the choice before the government was to either privatise or close the airline down

The Indian government is close to inviting financial bids for the loss-making flag carrier, Air India, Civil Aviation Minister Hardeep Singh Puri said while addressing a media event on Friday. He added that the process of disinvestment was likely to be completed by May or June.

A Bloomberg report quoted Puri further as saying: “It’s a question of taking the decision and handing over the airline.” However, he didn’t offer any details of the bidders that made the initial shortlist.

As per reports, Tata Group and SpiceJet Chairman Ajay Singh have been shortlisted to bid for the airline. Puri said during the conclave that the government lost Rs 20 crore daily on the carrier.

On its official Twitter handle, a news agency quoted Puri as saying that the choice before the government was to either privatise or close the airline down.

“We’ve decided that Air India will be 100% disinvested. Choice isn’t b/w disinvestment & non-disinvestment, it’s b/w disinvestment & closing down. Air India is a first-rate asset but has an accumulated debt of Rs 60,000 Cr. We need to draw the slate clean.

Government be Like Dheere Dheere Sab Bhech Duga!!!