CPI opposes AI disinvestment, terms move 'suicidal'

The Communist Party of India (CPI) today termed "suicidal" the government's decision to privatise Air India and demanded it to roll-back the move.

Disinvestment of Air India is against the national interest and is being carried out at a time when banks are being "looted" by the private sector, it said, making an oblique reference to the recent controversy involving jewellery designer Nirav Modi.

Modi is an accused in a Rs 11,400-crore banking fraud and is believed to have left the country.

"Whenever any public sector unit is plunged into a crisis for no fault of it, the Modi government takes decision to hand it over to private sector business houses," the party said in a statement, adding, "handing over public assets to private sector is suicidal".

The government today unveiled plans to sell up to 76 per cent stake in Air India and transfer the management control to private players, starting the ambitious strategic disinvestment process for the debt-laden national carrier.

Air India had a fleet of 115 aircraft as on December 2017 and serves around 39 international destinations.

As on December 1, 2017, the airline had 11,214 permanent employees and 2,913 on contract, among others.

Leading trade union All India Trade Union Congress (AITUC) also slammed the move and appealed workers and trade unions to unitedly oppose the "retrograde" policy.