New Delhi: In a hurry to sell the Maharaja of the sky, government on Monday announced its plan to sell the entire of its stake in Air India. According to the bid documents, the Air India would sell 100 per cent stake in low cost Air India Express and 50 per cent shareholding joint venture AISATS.

The government has set March 17, 2020 as deadline for submitting Expression of Interest, adding that any bidder would have to agree to assume roughly USD 3.26 billion in debt and other liabilities.

“The Government of India (GOI) has given ‘in-principle’ approval for the strategic disinvestment of AI (Air India) by way of the transfer of management control and sale of 100 per cent equity share capital of AI held by GOI which will include AI’s shareholding interest of 100 per cent in AIXL (Air India Express Limited) and 50 per cent in AISATS (Air India SATS Airport Services Private Limited),” the document read.