Friday, March 26, 2021

‘Air India likely to incur loss of almost ₹10,000 cr.’

New Delhi: Air India is likely to incur a loss of ₹9,779 crore for the financial year 2020-2021, according to provisional figures shared by the Centre in Lok Sabha on Thursday.

“The COVID-19 pandemic, along with its related impact on the aviation industry, has worsened the financial position of airlines in the country, including Air India,” Minister of State for Civil Aviation Hardeep Puri told Parliament.

On whether the latest losses would impact Air India’s privatisation, the Minister said, “the valuation of Air India will be done closer to the financial bid stage.”

The government has so far received “multiple” expressions of interest after it put the airline under sale in January 2020 and those have been evaluated by transaction adviser EY. As per the process, the adviser will intimate the qualified interested bidders about the next steps for the proposed disinvestment.

25/03/21 The Hindu

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