Besides, the over 2,500 global arrival and departure slots - including 72 in American and Canadian airports - and over 3,700 slots at airports in India, is just one of the reasons why most worldwide airlines should consider Air India as a good investment opportunity.
The new air link between Tel Aviv and New Delhi was announced in July previous year by Indian Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu, but it was not until January that the pair suggested it might use Saudi airspace.
The government is planning to create an employee stock ownership plan (ESOP) from its own stake in Air India (AI), Minister of State for Civil Aviation Jayant Sinha said in an interview to CNBC TV18.
Media reports from India suggest a new owner will get the company 's aircraft and about $US5 billion in debt to take part in India's highest-profile asset sale for decades. The funds saved can help the government bolster its finances and boost spending on health and education.
"Government is not in a hurry to sell 100 per cent shares".
During the weekly cabinet meeting on Sunday, Prime Minister Benjamin Netanyahu hailed the new Air India route as "historic".
What one gets with a 76% stake in Air India is an operational fleet of 104 aircraft of which only 69 are owned outright or through financial lease by the airline.
When bidding in a consortium, a clearly defined lead member needs to hold majority stake in the corporate entity representing the consortium.
Qualified Interested Bidders must have a minimum net worth of INR50 billion rupees (USD772 million) and must show they are Positive Profit After Tax (PPAT) in at least three of the immediately preceding five financial years from the EOI Deadline (May 14, 2018). The government must lose no time in enabling that, while being open to even restructuring or reducing the airline's debts to make it an attractive buy. The existing debt and liabilities of Air India and Air India Express as on March 31, 2017 would be re-allocated.
During the same period, Air India Express had 555 slots at different domestic and worldwide airports.