You are here: Home » Companies » News
Business Standard

Air India sale: Investor outreach on, meeting potential bidders, says Puri

Air India disinvestment: Making forward movement, seeking potential investors: Puri

Air India | Air india disinvestment | Hardeep Singh Puri

IANS  |  New Delhi 

Hardeep Singh Puri
Civil Aviation Minister Hardeep Singh Puri

Making forward movement on disinvestment, the government is meeting potential investors to sell off almost its entire equity stake in the national carrier.

"Currently, the investor outreach programme is on. CMD, Aviation Secretary and other concerned officials are meeting potential bidders," Civil Aviation Minister told IANS.

The minister said the first meeting of the Group of Ministers (GoM) has met earlier and taken some decisions. He hinted that disinvestment exercise was very much on course and can happen soon. Asked if there were still hurdles such as FDI rules in the way of disinvestment, the Minister said he was not aware of any.

The government has decided to almost completely exit the airline saying the financial support being provided to the airline could be put to better use such as building social infrastructure.

This will be the second attempt by the Modi government to disinvest Air India as it failed to get any bid from private parties during the initial stake sale process last year.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 19 2019. 20:40 IST