Praful Patel denies Air India strategic investor talk

New Delhi: Is the ministry of civil aviation on a backfoot over the proposal to bring in a strategic investor for Air India? Minister Praful Patel, on Tuesday, denied the existence of any such proposal.
But senior ministry officials said that the proposal, which was being discussed and deliberated upon till recently, will now have to pass muster with the newly ‘professionalised’ board of directors of the airline.
“It (strategic investor) is one of the options we have discussed within the ministry and with the CMD earlier…..but now, let the airline come up with this proposal itself. We have professionals on the board, new committees for Strategy and Finance have been constituted, reporting to chairman and MD, Arvind Jadhav and they will take this call,” the officials said. Another said that bringing in a strategic investor is like “selling the family jewels”.
Already, this proposal has generated stiff opposition within some sections of the government.
14/04/10 Sindhu Bhattacharya/Daily News & Analysis

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Categories: NACIL Apr 2010