GoM will decide on AI divestment: Prabhu

New Delhi: The future course of action for Air India’s disinvestment process will be decided by the Group of Ministers (GoM) as no initial bids were received for the proposed stake sale of the debt-laden national carrier, Civil Aviation Minister Suresh Prabhu said on Thursday.

He said all alternatives would be discussed by the Air India Specific Alternative Mechanism (AISAM), headed by Union Minister Arun Jaitley.

On whether the government would dilute the bidding norms to attract players, Mr. Prabhu said that the decision would be taken by that GoM only. “There are several alternatives before Air India. All alternatives will be discussed by the group and [they will] decide the best possible alternative in the given situation,” he said.

The deadline for submission of Expression of Interest ended on May 31, with not a single bidder evincing interest in the airline.