Subramanian Swamy terms Air India divestment a potential scam in the making

The government has planned to divest 76% government stake in Air India.

Bharatiya Janata Party (BJP) MP Subramanian Swamy on Saturday described the Air India divestment process as “potentially another scam in the making” saying he would file a criminal complaint if he finds any “culpability”.

BJP MP Subramanian Swamy said he will file a criminal complaint if he finds any culpability. (HT File Photo)

“The proposed sale of Air India is potentially another scam in the making. Selling family silver is not divestment. I am watching who is doing what and will, if I see culpability, file a private criminal law complaint,” the Bharatiya Janata Party (BJP) leader said in a tweet.

Swamy’s tweet came days after the divestment process of the flag carrier Air India (AI) took-off in the wake of government inviting “Expression of Interest” to off-load 76% stake and management control of the airline.

The Preliminary Information Memorandum (PIM) inviting “EoI” for the strategic divestment of AI, along with the airline’s shares in AIXL (Air India Express) and AISATS (Air India SATS Airport Services) from private entities including the airline’s employees was issued on Wednesday.

The central government owns 100% equity of Air India. In turn, the airline holds full stake in Air India Express, while it holds 50% stake in the joint venture AISATS.

Accordingly, it has been planned to divest 76% government stake in AI, 100% in AIXL and 50% in AISATS.