Business

To participate in stake sale process, IFC may underwrite Air India debt

New Delhi: International Finance Corporation (IFC) has evinced interest to participate in the Air India sale process. The World Bank's private investment arm is assessing potential investment opportunity in the state-owned airline and is willing underwrite the entire debt amount for the successful bidder.

'IFC has had rounds of discussion with transaction advisor EY for the Air India deal and have said they would explore opportunity to work with a successful bidder by underwriting the debt amount,' a person aware of the developments said.

Centre has called for bids to sell 76% in Air India along with 100% in low-cost arm Air India Express and 50% stake in joint venture AISATS, which is into ground handling business.

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