Tuesday, July 03, 2018

Government Committed to Turn Around Air India and Run it Professionally: NITI Aayog

The government is committed to turn around Air India and run it professionally, said Rajiv Kumar, NITI Aayog Vice Chairman. Air India disinvestment process had a setback on May 31 when it failed to attract any initial bids for the proposed 76 per cent strategic stake sale in debt-ridden national carrier.

For many years there have been continuous efforts to turnaround the debt-laden national carrier. Several airlines initially showed their interest in buying the national carrier but later pulled out after due to complications of the deal. The private players also became disinterested when the government said that it did not want to sell international operations separately.
It has been reported that the government has decided to put Air India disinvestment plan on the back burner till election gets over citing high fuel prices.

“The airline is posting operational profits. None of the flights go empty. With all the cost-efficient mechanism in place, we will continue improving its operational efficiency. There is no need to rush in for disinvestment as of now,” the official told PTI.
03/07/18 India.com