Govt committed to Air India's strategic disinvestment, says Sinha
The process for selling 76 per cent stake in the airline is over now.
New Delhi: The government is committed to the strategic disinvestment of Air India, Union Minister Jayant Sinha said on Wednesday.
A plan is also being worked out by the Air India board and the situation was reviewed after the proposed strategic stake sale of the national carrier failed to attract any bidders last month. Sinha, the minister of state for civil aviation, said the government is committed to the strategic disinvestment of Air India.
However, the process for selling 76 per cent stake in the airline is over now, he added. Under the proposed plan, the government was to sell 76 per cent stake in Air India along with complete divestment of low-cost arm Air India Express and a 50 per cent stake in Air India SATS Airport Services Pvt Ltd -- an equal joint venture with Singapore's SATS.
On Tuesday, a top official had said the government has for now dropped plans to sell majority stake in Air India as it may not be the right time to privatise the loss-making flag carrier in an election year.