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  Business   Companies  17 Oct 2017  Govt will prefer selling Air India to domestic buyer for its divestment

Govt will prefer selling Air India to domestic buyer for its divestment

REUTERS
Published : Oct 17, 2017, 10:40 am IST
Updated : Oct 17, 2017, 10:42 am IST

Govt says it has yet to decide what to do with carrier’s debt burden of Rs 55,000 crore.

Air India is surviving on Rs 30,000 crore bailout package extended by UPA government.
 Air India is surviving on Rs 30,000 crore bailout package extended by UPA government.

New Delhi: India would prefer selling state-owned Air India to a domestic buyer, a government source told reporters on Monday, as it finalises the privatisation process.

Earlier this year the government said it would sell its stake in the loss-making airline but it has yet to decide what to do with the carrier’s debt burden of $8.5 billion that roughly amounts to Rs 55,000 crore.

 

The government is mulling selling the airline’s various businesses - which include ground-handling, domestic operations and international flights - in parts, the source said.

Tags: air india, stake sale, air india privatisation, air india divestment
Location: India, Delhi, New Delhi