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Centre to expedite AI's disinvestment: Civil aviation secy

Press Trust of India  |  Hyderabad 

The government is committed to the process of Air India's disinvestment and is likely to invite Expressions of Interest (EoIs) from interested parties in the next few weeks, an said today.

Speaking here at the inaugural ceremony of the four-day aviation event 'Wings 2018', R N Choubey said a revised EoI for disinvestment in is also expected to be floated around the same time.

"Our ministry is presently engaged in the important task of finding buyers for Air India, its subsidiaries and We are committed to take it forward very very fast," he said.

"We expect that the for should come out possibly in the next couple of weeks. A revised EoI for will also be coming forward around the same time," Choubey said.

Last year in June, the had approved privatisation of the debt-laden national carrier, which is staying afloat on taxpayers' money.

A group headed by has been appointed to chalk out the strategy for Air India's stake sale.

Choubey said India's domestic air passenger traffic has grown over 20 per cent in the last three years. However, because of the increasing oil prices, the growth this fiscal is expected to be around 17.5 per cent.

Nevertheless, if remain below USD 80 per barrel, the is expected to grow at a compound annual growth rate (CAGR) of 15 per cent over the next 20 years, he said.

The government's regional air connectivity scheme 'Udan' has further boosted traffic growth in the country, Choubey said.

"As many as 56 new airports have been added into the network in the last two years," he said.

Besides, many more airports are expected to be operational in the next six to eight months as by that time the second phase of Udan will also take off, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 14:20 IST
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