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Business EconomyPosted at: Feb 21 2018 8:11PM


No final decision yet on how much stake Govt will sell in Air India: Raju

New Delhi, Feb 21 (UNI) Civil Aviation Minister Ashok Gajapathi Raju said on Wednesday that government has not taken any final decision yet on how much stake in Air India it wants to sell.
Talking to reporters in New Delhi, Mr Raju Said, “There is no final decision that has taken place. There are lots of suggestion, there is lots of thinking.”
Answering a question, he said that it is yet to be decided that how much (percentage) share government would sell in Air India.
Civil Aviation Minister said that Air India is a good airline which is in debt trap and there is a need of change in Management of the airlines.
Air India is in a debt of almost Rs 50,000 crores. A group of ministers has been appointed to chalk out the strategy for Air India's stake sale.
Mr Raju said that the present government inherited problem of Air India from the previous government.
He added that there are many properties of Air India which is not related to the operation of the airlines and can be sold to reduce the debt of it as it is difficult to find a company who will be interested in taking over the Air India with such a huge debt.
But he clarified that there was no plan to waive off the loan of Air India by Government.
Last year, the Union Cabinet approved privatisation of the debt-laden national carrier, which is staying afloat on taxpayers' money.
Earlier this month, Minister of State for Civil Aviation Jayant Sinha had said that more than 51 per cent of ownership of Air India will be transferred to the private sector.
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