The Central Government has given the theoretical clearance to the disinvestment of Air India. In the cabinet meeting, the government has decided to sell the ‘Maharaja’ to the shareholder. The Ministry of Civil Aviation had already recommended the approval of its disinvestment from the Center.
Finance Minister Arun Jaitley said that a panel will be set up to implement this process. Air India has been running a deficit for a long time and its deficit is increasing steadily. In this case, the government has taken this step to bail out Air India.
Jaitley said, “Theoretically the disinvestment of Air India has been approved. The proposal of the Ministry of Civil Aviation has also been accepted to constitute a group under the chairmanship of the Finance Minister to decide the modalities of the disinvestment process.
Many times before the government has tried to improve the situation of Air India. Regardless of its financial loss, the condition of the air-conditioned Air India remained worrying. For a long time, demand for its disinvestment has been mounting so that the support of state-run banks in the interest of Air India could be supported. At present, Air India has the largest domestic airline in the country with 140 aircraft. Which includes 72 domestic flights with 41 international flights.
Tata can buy stake!
After approval of the disinvestment of Air India, private company can buy Air India’s stake from the Tata government. In a recent report, it was claimed that in this regard, informal talks between Tata’s rights and the government have also been discussed. If this happens, then Air India will return home because as of 1953, Air India was owned by the Tata Group only.