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Govt committed to Air India’s strategic disinvestment, says Jayant Sinha

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.

business Updated: Jun 20, 2018 15:31 IST
Press Trust of India
Press Trust of India
Press Trust of India, New Delhi
Air India,Jayant Sinha,civil aviation
minister of state for civil aviation, Jayant Sinha. (HT File Photo)

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% stake in the airline is over now, he added.

Under the proposed plan, the government was to sell 76% stake in Air India along with complete divestment of low-cost arm Air India Express and a 50% 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.

First Published: Jun 20, 2018 15:31 IST