Saturday, July 06, 2019

Air India moves quickly on 2nd sale bid, chairman calls unions Monday

Mumbai: Acting quickly on the government's second attempt to sell the financially-crippled national carrier Air India, its chief Ashwani Lohani has called a meeting of all the 13 unions Monday to discuss the terms of privatisation, according to sources.
The government Friday reiterated its intent to exit Air India with finance minister Nirmala Sitharaman stating in the budget speech that government will go ahead with privatisation of the flag carrier and has just earmarked a paltry Rs 1 lakh from the budget for the airline, that has been somehow keeping afloat.
The Narendra Modi government in its first term had also attempted to exit from the airline business but failed to get a buyer, forcing it to defer the plans.
"The government has directed the Air India chairman and managing director to meet all trade unions and discuss the privatization move," a source close to development told PTI Friday night.
Finance minister Nirmala Sitaharaman while presenting the budget said, "in view of the current macroeconomic parameters, the government would not only re-initiate the process of strategic disinvestment of Air India, but would also offer more central enterprises for strategic participation by the private sector."
Lohani along with AI board members are expected to meet all the 13 unions Monday, the source added.
05/07/19 PTI/Economic Times

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