Government's new plan for debt-ridden Air India, will sell 100 per cent stake

Jul 07 2019 04:12 PM
Government's new plan for debt-ridden Air India,  will sell 100 per cent stake

NEW DELHI: The Modi government at the Centre has started a fresh idea to sell the debt-ridden state-owned airline Air India. Under the new scheme, the government is likely to sell 100 per cent stake in Air India. However, the final decision in this regard is to be taken by a panel of Ministers. Secretary, Investment and Public Property Management (Dipam) Atanu Chakraborty has briefed on this.

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"The government believes that it is okay if investors want to buy the entire share of the airlines, but I will explain it only when a final decision is taken." I personally feel that I do not see any hindrance on the part of the Government. Significantly, the government has once again been active in selling the airline after it failed to sell it last year.

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However, the government had attributed the volatility in crude oil prices to the holding of its sales last year. The NITI Aayog had offered to sell the entire stake of the company, but the government had offered to sell 74 per cent stake to a strategic investor, which was a major reason for its non-selling. The government has now decided to sell 100 per cent stake in the company.

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