New Delhi, Jan 22 (SocialNews.XYZ) The second attempt to sell Air India and its subsidiary Air India Express has begun with the national career floating tender for physical aircraft inspection of its fleet and data room related matters.
The bid has been invited for technical due diligence, aircraft documentation and physical inspection for the 125 aircraft of Air India and 25 Boeing aircraft of Air India Express.
"AI (Air India) invites bids from experienced and reputed Aircraft Asset Management companies for carrying out Technical Audit and due diligence of its owned and leased fleet," said the airline in tender document dated January 10.
The move is aimed at facilitating disinvestment of the two carriers.
The tender document said that the technical due diligence is to be carried out on the entire fleet of Air India and Air India Express listed in the Air Operators Certificate (AOC) issued by aviation regulator, the Directorate General of Civil Aviation (DGCA).
As per fleet details, Air India has 47 wide-body aircraft and 78 narrow-body jets. Out of 125 aircraft, the airline owns 52 aircraft with remaining planes being on finance lease, dry lease and sale and lease back terms.
Air India has 30 of its aircraft grounded with 15 either not operating or not part of AOC. Air India Express owns 8 aircraft while the remaining being on dry lease or finance lease.
Preliminary information memorandum (PIM) inviting expression of interest (EoI) for divesting 100 per cent government stake in the airline is expected any day now with insiders saying that it may come as soon as this Friday or early next week.
The Modi government has decided to completely exit Air India as it does not want to provide any further financial support to it and instead direct the funds towards building social infrastructure such as hospitals, schools and roads.
Air India has been surviving on a Rs 30,000 crore bail-out package cleared by the UPA-II government in April, 2012.