India to sell 76 percent stake in state-run carrier Air India

India said on Wednesday it plans to sell a controlling stake in Air India along with roughly $5.1 billion of the state-run carrier's debt, one of the biggest divestments undertaken by Prime Minister Narendra Modi's government. The government plans to sell a 76 percent stake in the carrier that operates both domestic and international routes, according to official bid documents released by the ministry of civil aviation. The proposed sale will also include a 100 percent stake in Air India's low-cost arm - Air India Express, and a 50 percent stake in its ground-handling arm - SATS Airport Services.

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