It is a major carrier of international traffic to and from India, accounting for 11.4 per cent of the total international travel, it added.
A group of ministers, headed by Finance Minister Arun Jaitley, is working on the modalities of the proposed divestment.
The airline is surviving on taxpayers' money. The turnaround plan, approved by the previous UPA government in 2012, provides for equity infusion of Rs 30,231 crore up to 2021, subject to the national carrier achieving certain milestones.
As part of the plan, various steps have been taken to cut costs and losses. These include route rationalisation and enhanced utilisation of new fleet.
The carrier has a debt burden of more than Rs 50,000 crore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)