Government Puts Off Air India Stake Sale For Now


The government has decided not to go ahead with Air India stake sale in an election year and will provide required funds for its operations, a senior official said today.

The decision comes less than 3 weeks after the proposed 76 per cent strategic stake sale in debt-laden national carrier failed to attract any bidder. Air India will very soon get funds from the government for its day to day operations and will even place orders for a couple of aircraft, the government official said.

The decision was taken at the high level meeting convened by Union Minister Arun Jaitley yesterday. The meeting was attended by Piyush Goyal, who has been temporarily given the charge of the finance ministry, Civil Aviation Minister Suresh Prabhu, Transport Minister Nitin Gadkari and other senior officials of finance and civil aviation ministries.

“The airline is posting operational profits. None of the flights go empty. With all the cost efficient mechanism in place, we will continue improving its operational efficiency. There is no need to rush in for disinvestment as of now,” the official told PTI. Read More

You may also read!

These #KargilHeroes Are Indian Army’s Only 2 Serving Param Vir Chakra Awardees!

When a soldier decides to go beyond the call of duty on the battlefield, it is but a split

Read More...

Terrorists Attack Security Personnel In Anantnag

Terrorists opened fire on a security personnel at Bumzoo village in Anantnag district's Mattan town here on Saturday. Following the

Read More...

Mazagon Dock Starts Production Of 4th Visakhapatnam Class Destroyer

Commodore Rakesh Anand, Chairman & Managing Director, Mazagon Dock Shipbuilders Limited, inaugurated the Commencement of Production activity of Y-12707,

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu