Wednesday, August 09, 2017

Could be wise to write off some Air India debt: Arvind Panagariya

New Delhi: Outgoing Niti Aayog Vice Chairman Arvind Panagariya has said that writing off some debt of Air India, so as to make it attractive to prospective investors, could be a "wise" move.

Following a suggestion by Niti Aayog, the government is endeavouring to privatise the state-owned carrier and a committee has been set up under Finance Minister Arun Jaitley to carry forward the process.


"I don't know whether you need to write off debt to find a buyer, I don't know the market. Transaction advisers are competent on that," Panagariya told in an interview.

"I am just saying that it's probably wise to write off part of the debt before this happen (privatisation of Air India)," he added.

On whether there is need for a asset stripping before sale of national carrier, he said, "No, why would you do asset stripping. It's a well running, well functioning Airline."
09/08/17 PTI/Economic Times

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