Nine months to the day after it announced the privatisation of Air India, the government of Modi, through the ministry of civil aviation, gave birth, on Wednesday, march 28, from his project. The candidates to the takeover of the national airline, founded in 1932 by the family of industrial parsis Tata, have until may 14 to declare before the organization of a bidding process ” open “.
The executive had three scenarios in mind : the sale of a quarter, half or three-quarters of the capital. It is this last solution which was chosen. The State federal indian is going to sell 76 % of shares of Air India and to maintain control of the company through its voting rights. The choice of this upper range has been motivated by the objectives of privatisation revenues, New Delhi. In its proposed budget for fiscal year 2018-2019, which will commence on Sunday 1st April, the minister of finance, Arun Jaitley, has set the bar to 800 billion rupiah (about 10 billion euros).
Accounts in the red
The other motivation is due to the financial situation still very difficult to the company and to the line of conduct set by Narendra Modi. In his own words : “This is not the case of the State being in the business. “The employers themselves, believe that it would be better to go to the end of this adage and sell everything. “It is as if the government wanted to get rid of his old car, while wanting to continue to ride with on Sunday “, persifle Saumitra Chaudhuri, former member of fire in the Commission of the plan based on the independence, in 1947, by the socialist Jawaharlal Nehru (1889-1964).
The buyer, a private Air India, whose market share fell to 13.3% this winter, will have to meet multiple criteria, has warned the civil aviation ministry in its call for applications. If the government…