As the Narendra Modi government’s term nears the end, it has officially given up on its plans to privatise Air India (AI) for now, after no buyers turned up earlier this year.
Instead, the government has announced a ‘revival’ plan, which includes more ‘autonomy’ for the ailing national carrier that was deliberately dunked into debt and made sick.
But the government’s measly offering to AI is unlikely to turn around the fortunes of the public-sector airline, which was an undisputed market leader not too long ago, especially given imposition of the condition that AI should not seek financial support from the government after 2018-19.
And while the government is not currently ‘divesting’ AI, it is divesting AI literally. Plans are afoot to strip it of its assets (including real estate and even artefacts) and subsidiaries, setting the stage for its eventual divestment under the next government. So, the reprieve is temporary.
08/11/18 Praneta Jha/News Click
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Instead, the government has announced a ‘revival’ plan, which includes more ‘autonomy’ for the ailing national carrier that was deliberately dunked into debt and made sick.
But the government’s measly offering to AI is unlikely to turn around the fortunes of the public-sector airline, which was an undisputed market leader not too long ago, especially given imposition of the condition that AI should not seek financial support from the government after 2018-19.
And while the government is not currently ‘divesting’ AI, it is divesting AI literally. Plans are afoot to strip it of its assets (including real estate and even artefacts) and subsidiaries, setting the stage for its eventual divestment under the next government. So, the reprieve is temporary.
08/11/18 Praneta Jha/News Click
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