‘Air India privatisation will boost confidence in govt’s capacity to close transactions’: CII
The sale of state-run Air India will help to “embolden confidence” in the government’s capacity to close transactions and encourage bidding in future sales at a time when the government is lagging in its disinvestment plans as only around 5% of its annual target has been met so far, the Confederation of Indian Industry (CII) said on Monday.
The government on Friday announced that Tata Sons is the highest bidder to win back the country’s flagship carrier Air India (AI) for ₹18,000 crore. This marked an end to its five years of struggle to privatise the debt-laden airline. The transaction is expected to be completed by the end of this year.
