Thursday, August 10, 2017

Government will continue to support Air India during stake sale process

New Delhi: The government will continue to support Air India during the disinvestment process and honour committed financial obligations till any further direction, union minister Jayant Sinha told the Lok Sabha today.

In a written reply, he said cost reduction steps coupled with the implementation of the turnaround plan has resulted in an improved performance of Air India as it is "showing a turnaround on both operational and financial parameters"

A group of ministers, headed by Finance Minister Arun Jaitley, is looking at the modalities for strategic disinvestment of Air India and its five subsidiaries. In June, the Cabinet Committee on Economic Affairs (CCEA) gave its in- principle approval for the disinvestment.

"During the disinvestment process, the government would continue to support Air India as per approved turnaround plan and would honour committed financial obligations till any further direction," Sinha said in another written reply.
10/08/17 PTI/Economic Times

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