New effort to divest loss-laden carrier: Govt planning to get off Air India, bag and baggage
The government wants to exit fully from Air India as it embarks on another effort aimed at divesting the loss-laden carrier after a plan to sell a 76% stake last year failed.
“I believe the government should not be in the business of running airlines… and believe the government should completely exit Air India,” aviation minister Hardeep Singh Puri said. “There are many who are very interested in the airline and the one who gets the airline will be very fortunate.”
Air India has debt of about Rs 31,000 crore after the government took over Rs 29,000 crore off its books, thus reducing the airline’s interest burden by Rs 2,400 crore to Rs 1,700 crore annually.
