New Delhi : The government is constantly in the process of handing over the debt-ridden state-run airline Air India to private hands. But the government has achieved failure so far. The company is going through a huge crisis. The government formed a group of ministers under the leadership of Home Minister Amit Shah. The group met meeting on the issue. Which included Finance Minister Nirmala Sitharaman, Commerce and Railways Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.
After the meeting, Puri said, "I am not in a position to make any announcement right now." Please allow the process to proceed. However, the meeting was constructive in which all related issues were discussed. Its process will start soon. Air India has an outstanding debt of over Rs 58,000 crore. According to sources, the modalities of Air India sales were considered in the GoM.
Air India had a loss of Rs 7,600 crore in the financial year 2018-19. At the end of FY 2018-19, Air India had a debt burden of Rs 58,000 crore. In the first term of the Narendra Modi government, bids were sought from investors in 2018 for acquisition and management control of the government's 76 percent stake in Air India. But the sale process of Air India had failed due to investors not showing interest in it. The oil companies had stopped supplying oil to the airline for not paying.
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