Friday, September 13, 2019

"Determined To Privatise Air India," Says Aviation Minister

New Delhi: Civil Aviation Minister Hardeep Singh Puri on Friday said the government is determined to privatise national carrier Air India and it will soon have the meeting of Group of Ministers (GoM).
Addressing the media, he said the GoM will decide the expression of interest.

"We are determined to privatise Air India. The first meeting of the alternate mechanisms, which is the meeting of the Group of Ministers under the leadership of (Home Minister) Amit Shah, will be organized soon," Mr Puri said.

He said after the expression of interest is finalized, the process will start.

In June, the Central government had decided to restart the divestment process of the national passenger carrier and its five subsidiaries.

At that time, the Ministry of Civil Aviation had said that continued support from the government had resulted in improved financial and operational performance of the airline.

Last year, the government had decided to implement a revival plan for the airline, comprising a comprehensive financial package and sale of non-core real estate assets.

The plan comprised several major elements such as a comprehensive financial package, including transfer of non-core debt and assets to a special purpose vehicle (SPV) and strategic disinvestment of subsidiaries.

Since the implementation, the airline's financial and operational performance has improved.

The plan was initiated after the government had offered to sell 76 per cent stake in Air India. However, the state-owned carrier failed to attract any bidder.
13/09/19 IANS/NDTV
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