Saturday, October 17, 2020

Nod for stake sale in 'debt free' Air India likely




The union home minister led inter-ministerial panel may soon give its nod for a stake sale in a 'debt free' Air India.

According to sources, there are some serious doubts as to whether a plain extension to the EOI timelines would elicit any serious interest.

The deadline to submit bids for the national carrier has already been extended four times this year.

The fourth extension was given on August 25 when the deadline for placing bids for Air India was pushed by two months to October 30 as the COVID-19 fallout has disrupted economic activity globally.

The process of stake sale in the national carrier was initiated on January 27. Air India has incurred a net loss of about Rs 2,570 crore in the first quarter of 2020-21 as compared to a net loss of Rs 785 crore sustained in the corresponding period a year ago, he added in a written reply to a question in Lok Sabha.

An amount of Rs 1,000 crore as loan to Air India has also been provided in the current financial year, Puri stated.

16/10/20 CNBC TV18

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