Air India disinvestment: Centre takes this next step to privatise national carrier

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Published: September 23, 2017 6:02:17 AM

The Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India.

Ministry of Civil Aviation, Air IndiaThe Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India. (Image: Reuters)

The Ministry of Civil Aviation on Friday invited proposals for recruitment of an asset valuer for disinvestment of Air India.  Interested parties are required to submit their proposals by October 16. According to document uploaded by the Department of Divestment and Public Asset Management (DIPAM), the government has in-principle decided to consider the disinvestment of the Air India group as a whole or its constituents fully or part thereof through strategic sale with transfer of management control. For this purpose, the ministry requires services of a reputed asset valuer to carry out the valuation.

The broad scope of work for the asset valuer will be to carry out valuation of land & buildings, furniture & fixtures, aircraft including airframes and engines, spare engines, maintenance repair and overhaul facilities including workshop equipment, instruments, machinery and plants. “The above valuation of assets is to be done for Air India and its subsidiaries/JV in India and its overseas offices. The valuation is to be done keeping in view the objective of disinvestment and would be changed if there is a change in the objective,” the ministry further noted in the proposal. AI operates in 42 international destinations and over 70 domestic stations. It has an operating fleet of 142 aircraft comprising 65 A-320, 15 B777, 24 787s, 23 737-800 and 11ATRs and 4 B747.

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