The Centre has decided that NRIs can acquire a 100 percent stake in the public sector aviation company Air India as the decision was taken by the cabinet chaired by PM Narendra Modi. The government is looking for AI disinvestment.
The cap for the NRIs to acquire a stake in the national airlines was 49 percent earlier. It was announced that regarding the strategic sale of Air India, now NRIs can acquire 100 percent of stake in the airlines.
The government has initiated the process of divesting its share from Air India a long time back and is looking for suitable bidders. An attempt by the government to divest its stake in AI failed due to not getting potential buyers.