Air India Disinvestment to Complete Before December 31, 2021
Hardeep Sing Puri, Union Civil Aviation Minister said the disinvestment process for Air India will be completed by the year end. He said the delay in the process was caused because of the pandemic.
- Bidders are currently looking at the financial books of Air India
- The disinvestment process will complete by the year end
- Air India needs to be privatised in order to compete with other airlines such as IndiGo
The national air carrier, Air India, has been operating under a loss for years now and has a mountain of debt on its shoulders. Thus the government had earlier decided to sell a 76% majority stake of the airline to interested buyers. However, there were no takers for the airline at that point in time. In the second round of attempt, the Modi government might actually sell the airline to a private entity. Speaking to CNBC TV18, Hardeep Singh Puri, Union Civil Aviation Minister, said the disinvestment plan of Air India is on track and it will complete within the year.
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