The central government is expected to conclude the divestment of Air India by June 2018 and is likely to sell Air India and Air India Express together so as to get bids from international airlines. Meanwhile, its domestic regional airline – Alliance Air – will be sold separately. Further, the government is also considering transferring Air India’s properties and non-operational assets to a special purpose vehicle to repay a portion of the airline’s debt. In another development, EY and Rothschild have been chosen as transaction advisers for the strategic divestment process of Air India, while Cyril Amarchand Mangaldas has emerged as the lowest bidder for the role of legal adviser.
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