Govt to invite bids for I-A this month

NEW DELHI, AUGUST 4: The government today decided to invite bids this month for a strategic partner to Indian Airlines by offering it 26 per cent equity. The decision was taken at the inter-ministerial group IMG meeting, chaired by the Secretary in the Department of Disinvestment Pradip Baijal.

Cabinet Committee on Disinvestment, headed by Prime Minister Atal Bihari Vajpayee, had cleared privatisation of the two airline corporations earlier this year.

IMG meeting for privatisation of Air India, where government would divest 40 per cent stake in favour of strategic partners, was held last month in Mumbai.