Cabinet might finalise the Air India sell off soon
Jun 19, 2017, 12:33 IST
The Union cabinet may soon announce its decision regarding the sale of the government's stake in India’s national carrier Air India that gas been running into losses.
The cabinet has the options of going for an outright sale or a partial divestment.
The Committee of Secretaries has prepared a cabinet note, which includes both the Niti Aayog's recommendation of going for complete privatisation of Air India and the civil aviation ministry's proposal of significantly reducing the airline's debt by selling subsidiaries and assets before going for privatisation.
"The proposal gives an option and leaves it to the cabinet to decide," a senior official told ET, requesting anonymity.
It’s been around two months that PM Modi gave his consent ahead for disinvestment in the airline, after it accumulated losses of more than Rs 50,000 crore with debts of about Rs 55,000 crore.
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The cabinet has the options of going for an outright sale or a partial divestment.
The Committee of Secretaries has prepared a cabinet note, which includes both the Niti Aayog's recommendation of going for complete privatisation of Air India and the civil aviation ministry's proposal of significantly reducing the airline's debt by selling subsidiaries and assets before going for privatisation.
"The proposal gives an option and leaves it to the cabinet to decide," a senior official told ET, requesting anonymity.
It’s been around two months that PM Modi gave his consent ahead for disinvestment in the airline, after it accumulated losses of more than Rs 50,000 crore with debts of about Rs 55,000 crore.
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