It is clear now! Govt to go with Air India Disinvestment

News Bharati    28-Jun-2019
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New Delhi, June 28: The Government is now committed for the disinvestment of Air India and its subsidiaries and is working towards it. In a meeting on 28th June 2017, the Cabinet Committee on Economic Affairs had in-principle approved the consideration for strategic disinvestment of Air India & its five subsidiaries. An Air India Specific Alternative Mechanism (AISAM) was constituted by CCEA for this.


 

In an AISAM Meeting held on 28th March 2018, which is last year, it was decided that due to issues like volatile crude oil prices & adverse fluctuations in exchange rates, the atmosphere was not conducive for the disinvestment. But this was last year.

However, continued support from the government had resulted in the improvement of financial & operational performance of Air India. As per the recommendations of AISAM, the govt will now go ahead with the process of disinvestment of the company.

 

Civil Aviation Minister Hardeep Sigh Puri in series of tweets said, “In a meeting on 28th June 2017, the Cabinet Committee on Economic Affairs had in-principle approved the consideration for strategic disinvestment of Air India & its five subsidiaries. An Air India Specific Alternative Mechanism (AISAM) was constituted by CCEA for this. In an AISAM Meeting held in June 2018, which is last year, it was decided that due to issues like volatile crude oil prices & adverse fluctuations in exchange rates, the atmosphere was not conducive for the disinvestment.”