A Group of Ministers (GoM) headed by Union Home Minister Amit Shah on Tuesday approved the Expression of Interest (EoI) as well as the share purchase agreement for Air India's privatization, a senior government official said. He also added that the EOI and share purchase agreement would be issued to the bidders in the month of January.
This happened due to Air India face a net loss in past years. While Air India's net loss in 2018-19 was around Rs 8,556 crore, its current total debt is around Rs 80,000 crore.
The Meeting was also attended by finance Minister Nirmala Sitharaman, aviation minister Hardeep Singh and Commerce Minister Piyush Goyal.