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Economy

Air India sale to spearhead $12bn divestment plan

Deal expected by year-end to set tone for string of SOE listings

An Air India aircraft at Indira Gandhi International Airport (Photo by Ken Kobayashi)

MUMBAI -- The Indian government hopes to receive 800 billion rupees ($12.55 billion) from a string of divestments in the fiscal 2018-2019 year, Air India expected to be the first in line for a stake sale.

The government has approved the listing of 14 public sector enterprises, including two insurance companies, on the stock exchanges, Finance Minister Arun Jaitley said in the budget announcement Thursday. Industry experts expect the government to invite expressions of interest in Air India soon and sees a deal being tied up later this year.   

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