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Air India on the verge of getting sold in May or June: Aviation Minister!
By: Tupaki Desk | 27 March 2021 9:47 AM GMT
While presenting the budget for the financial year 2021-22, Union Finance Minister Nirmala Sitharaman told the Parliament that the Union Government has focused on disinvesting from the PSUs.
The Centre is endorsing the disinvestment scheme from the PSUs that are making losses. Be it LIC, banks, or the recent Vizag Steel Plant(VSP). One more PSU is all set to experience the disinvestment of the government's share.
Civil Aviation Minister Hardeep Puri said, financial bids for Air India, flag carrier airline of India, headquartered at New Delhi. Very soon, Air India will be sold out.
Addressing a Conclave held by a leading media house, the Civil Aviation Minister said the bidding process is expected to be completed by May or June this year. However, he didn't reveal any names who gave bids for the Airline sales.
Talking about the decision to privatise the Airlines, the Aviation Minister said, the decision was taken as the airlines is making losses. Air India has a cumulative debt worth Rs 600 billion, he said.
As per the government's scheme to sell the assets and raise money with this, the money earned by the plan will be used to fight the pandemic situation in the country.
According to the media reports, Tata Group and Spicejet Airlines are said to have submitted their bids and they are also reportedly shortlisted. However, there is no official confirmation on this.
The Centre is endorsing the disinvestment scheme from the PSUs that are making losses. Be it LIC, banks, or the recent Vizag Steel Plant(VSP). One more PSU is all set to experience the disinvestment of the government's share.
Civil Aviation Minister Hardeep Puri said, financial bids for Air India, flag carrier airline of India, headquartered at New Delhi. Very soon, Air India will be sold out.
Addressing a Conclave held by a leading media house, the Civil Aviation Minister said the bidding process is expected to be completed by May or June this year. However, he didn't reveal any names who gave bids for the Airline sales.
Talking about the decision to privatise the Airlines, the Aviation Minister said, the decision was taken as the airlines is making losses. Air India has a cumulative debt worth Rs 600 billion, he said.
As per the government's scheme to sell the assets and raise money with this, the money earned by the plan will be used to fight the pandemic situation in the country.
According to the media reports, Tata Group and Spicejet Airlines are said to have submitted their bids and they are also reportedly shortlisted. However, there is no official confirmation on this.
