NEW DELHI: The government may not retain any stake in divestment-bound Air India, according to a draft Expression of Interest (EoI) prepared by the civil aviation ministry for divestment of the national carrier. However, it may also choose to keep 49, 26 or 24 per cent stake in Air India.
“The draft EoI prepared by the ministry gives four options to the decision making authorities. It gives the pros and cons for different options, which include retaining 49, 26, 24 or zero stake,” said a senior official of the ministry.
The proposed EoI will also address the issue of Air India’s employees and their future, the official added. “The draft also spoke about employees of Air India and the Department of Investment and Public Asset Management guidelines that need to be met such as the minimum benefits to be offered to the employees, when and how can their services be terminated, among others.”
The draft EoI, which was placed before the empowered committee at a meeting last week, will now be examined by the core group on disinvestment and the group of ministers constituted to prepare a strategy for the privatisation of Air India.