Air India sale: World Bank Group may get involved

IFC, part of the World Bank Group, made it clear that it is currently not involved in the Air India disinvestment process. The Centre has come out with a detailed preliminary information memorandum, detailing plans to offload up to 76 per cent stake in debt-laden Air India and transfer the management control to private players. 

However, the ambitious stake sale of Air India as well as its two subsidiaries seem to be hitting air pockets with two potential bidders — IndiGo and Jet Airways — deciding to keep away citing the contours of the process. While reports have mentioned that various entities, including quite a few global airlines, are interested in Air India disinvestment, there has been no official word about any particular entity. 

At present, IFC is not involved in the Air India disinvestment process, a spokesperson said, adding that normally it does not join the fray during the bidding phase. “However, we are committed to bridging development gaps in India and financing transport and logistics is one of our top strategic priorities.