Air India privatisation |
The government of India is examining all options, including disinvestment and privatisation of Air India, in order to turnaround the state-owned airline burdened by a mountain of debt, top aviation ministry officials said. A decision on the future course of actions for Air India is expected to be taken within three months. The ministry is working on a number of suggestions given by Niti Aayog on revival of Air India which include stake sale to a strategic investor. Air India`s consolidated debt has risen to around Rs 50,000 crore, even as the merger between the Air India and Indian Airlines approved in 2007 did not lead to the desired benefits that were expected to accrue from the merger — a matter now being probed by the Central Bureau of Investigation (CBI). Niti Aayog has made a recommendation for the course of action for Air India. They have suggested to take steps to make it a strong and viable airline. All courses of action are being examined by us to ensure this. Minister of State for Civil Aviation Jayant Sinha said the government is “considering all alternatives for making Air India into a stronger and even more viable entity” and it is working on a winning strategy for the carrier.
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