Centre to go ahead with Air India
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- July 2, 2019 --
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Centre to go ahead with Air India disinvestment; Ministry of Civil Aviation says support from govt has led to improved performance
New Delhi: The government said on Thursday efforts to sell debt-laden state-run carrier Air India were still on track, hours after a junior minister told Parliament the privatisation was on hold because of high oil prices and volatile exchange rates.
The government failed last year in its attempt to sell a 76 percent stake in loss-making Air India due to a lack of interest from bidders but said it would return with an alternative proposal soon.
“Continued support from the government (has) resulted in improvement of (the) financial & operational performance of Air India… the government will now go ahead with the process of disinvestment of the company,” the Ministry of Civil Aviation said on Thursday.
It issued the statement to correct comments earlier in the day by the country’s junior civil aviation minister, who told Parliament conditions were still not right to attempt another sale.
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