The Prime Minister Narendra Modi-led NDA government is making attempts to sell off Air India, India’s national carrier, in the view that it continues to remain a largely loss-making venture.
For well over 17 months since March 2018, the government of India attempted to sell partial stakes of Air India to possible bidders but it failed to garner interest, following which the government may actually be prepared to sell off its entire stake in Air India to private entities.
"The plan is to sell 100% stake in the airline. The proposal needs clearance from a ministerial panel before it is made public," an official was quoted as saying in Mint newspaper.
However, the Government of India faces several piercing challenges that are leading private players to tread cautiously, and perhaps preventing them from investing in or buying stakes in Air India.
Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management. This came in the backdrop of the Central government's decision to initiate the process of divestment of Air India's stake, which has a debt of over Rs 60,000 crore.
Speaking to ANI, a pilot who had recently resigned, said, "AI management should listen to our grievances. Our demand regarding salary hike and promotion is long pending before them but they have failed to give a strong assurance."
End Of The Road For Air India? Resignations Rise, Fuel Supply May Be Curbed As It Fails To Get Any Buyers.
16/10/19 Saket Suman/India Times
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For well over 17 months since March 2018, the government of India attempted to sell partial stakes of Air India to possible bidders but it failed to garner interest, following which the government may actually be prepared to sell off its entire stake in Air India to private entities.
"The plan is to sell 100% stake in the airline. The proposal needs clearance from a ministerial panel before it is made public," an official was quoted as saying in Mint newspaper.
However, the Government of India faces several piercing challenges that are leading private players to tread cautiously, and perhaps preventing them from investing in or buying stakes in Air India.
Around 120 Airbus A-320 pilots tendered their resignation after their demands pertaining to the salary hike and promotion were not paid heed to by the AI management. This came in the backdrop of the Central government's decision to initiate the process of divestment of Air India's stake, which has a debt of over Rs 60,000 crore.
Speaking to ANI, a pilot who had recently resigned, said, "AI management should listen to our grievances. Our demand regarding salary hike and promotion is long pending before them but they have failed to give a strong assurance."
End Of The Road For Air India? Resignations Rise, Fuel Supply May Be Curbed As It Fails To Get Any Buyers.
16/10/19 Saket Suman/India Times
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