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Private ownership only path to survival for Air India says civil aviation minister
March 29th 2021
India's Minister for Civil Aviation, Hardeep Singh Puri, said on the weekend government-owned national carrier Air India's only prospect of survival was as a privately-owned company, local media reported. Read More » "The choice is not between disinvestment and non-disinvestment, it’s between disinvestment and closing down," Puri said at a Times Network India Economic Conclave. The Indian government has been trying to sell Air India, which Puri described as a "first-rate asset", for several years. The airline has accumulated debts of 600 billion rupees (US$8.3 billion) and is losing 200 million rupees a day, the minister said. He revealed shortlisted buyers would have 64 days to submit their bids with the process expected to be completed by June. "We need to draw the slate clean," he said.
