Even as the state-run carrier Air India failed to garner any bids, interim Finance Minister Piyush Goyal reiterated that the government is confident of finding bidders for its proposed plan. “We are quite confident that it will go through and we will be meeting among ourselves,” Piyush Goyal told in an interview to ET Now.
Notably, the government has drawn a blank on the 76% stake sale in Air India, the deal with even potential bidders IndiGo and Tata Group staying away.
According to industry insiders, those eyeing a stake in the carrier were probably spooked by the government’s insistence on retaining a 24% stake despite suggestions it should exit the airline completely, Financial Express reported. Piyush Goyal attributed the scarcity of interest to high oil prices, saying that the “time is not right.”
According to the minister, the privatisation of national carrier will happen smoothly, and all that is required is a pragmatic meeting and discussion with the stakeholders for more transparency on the current issues hindering the deal. Read More