New Delhi: Air India's "books are so bad" that nobody will buy it even if the government wanted to sell off the national carrier, civil aviation minister Ashok Gajapathi Raju said on Tuesday.
Ruling out disinvestment in the carrier that has a debt of some Rs 50,000 crore, Raju at the same time made it plain that the taxpayers' money cannot be committed "for eternity".
"Its (Air India) books are so bad. I don't think that even if it is offered, anybody would come for it," he said.
Grappling with mounting debts and tough business conditions, Air India has been in the red since the merger of then Air India and Indian Airlines in 2007 and is staying afloat on a Rs 30,000-crore bailout package extended by the erstwhile UPA regime.
Asserting that unlike others, he would not like to get into "Air India bashing", the minister also said that the carrier needs to function in a more cohesive manner to deliver on its turnaround goals.
09/06/16 PTI/Times of India
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Ruling out disinvestment in the carrier that has a debt of some Rs 50,000 crore, Raju at the same time made it plain that the taxpayers' money cannot be committed "for eternity".
"Its (Air India) books are so bad. I don't think that even if it is offered, anybody would come for it," he said.
Grappling with mounting debts and tough business conditions, Air India has been in the red since the merger of then Air India and Indian Airlines in 2007 and is staying afloat on a Rs 30,000-crore bailout package extended by the erstwhile UPA regime.
Asserting that unlike others, he would not like to get into "Air India bashing", the minister also said that the carrier needs to function in a more cohesive manner to deliver on its turnaround goals.
09/06/16 PTI/Times of India
