New Delhi: Giving out a major statement Union Minister Hardeep Singh Puri has said that the Government is going to sell out its 100 percent stake in Air India under the proposed disinvestment process. Air India, which has a debt burden of more than Rs 50,000 crore, has been making a loss for long and as part of the revival effort, the government has decided on disinvestment.
“After the formation of the new government, Air India Specific Alternative Mechanism (AISAM) has been reconstituted and the re-initiation of the strategic disinvestment of Air India has been approved.
“AISAM has approved the 100 percent sale of Government of India stake in Air India for the re-initiated strategic disinvestment of Air India,” the minister of state for civil aviation said in a written reply to the Lok Sabha.
Air India’s net loss in 2018-19 is provisionally estimated to be Rs 8,556.35 crore. The minister said various measures, including enabling the swift transition of Jet Airways aircraft to other airlines, have been taken to improve the aviation sector.