In a choice between shutting down Air India and complete disinvestment, the Government has chosen the latter. On Saturday, Union Minister Hardeep Singh Puri announced that Air India will be completely disinvested.
“We’ve decided that Air India will be 100% disinvested. Choice isn’t between disinvestment and non-disinvestment, it’s between disinvestment and closing down. Air India is a first-rate asset but has an accumulated debt of Rs 60,000 Crore. We need to draw the slate clean” said Mr. Puri.
He revealed that financial bids will be invited in the coming days. Mr. Puri said that this time the government is ‘determined’ and there is ‘no hesitation’. The disinvestment process is likely to be completed by May or June of this year.