Terming sale-bound Air India and two of its subsidiaries as great assets, Civil Aviation Minister Hardeep Singh Puri on Monday said that the buyer of the airline would be using the iconic brands.
The Minister said that due to its accumulated debt of about Rs 60,000 crore, Air India’s financial position could be described as very fragile but a private company can turn it around and make profitable.
After failing to attract a single bid in 2018, the government has this time sweetened the offer. It has proposed to take off a major chunk of the airline’s debt and liabilities, besides being ready to divest its entire stake in Air India, and its low-cost subsidiary Air India Express.
