The government remains committed to privatising debt-ridden carrier Air India soon, Union minister of civil aviation Hardeep Singh Puri said in the Rajya Sabha on Wednesday.
Speaking during Question Hour, Puri said even as Air India had excellent assets and aircraft, it was incurring a loss of ₹15 crore per day, as a result of which the government was looking to make the carrier more “viable, revive it and then disinvest it”.
While the government hoped to make the airline’s operations profitable in the current financial year, Air India already has a debt of ₹59,000 crore, out of which the Centre had proposed to retire ₹29,000 crore to special purpose vehicles.
The government last week clarified that plans to privatise Air India were on track, but plans had been put on hold due to volatile oil prices and exchange rates. Read More