Govt yet to decide size of Air India stake sale, says Ashok Gajapathi Raju1 min read . Updated: 22 Feb 2018, 03:00 AM IST
Civil aviation minister Ashok Gajapathi Raju has said that the parliamentary panel on Air India stake sale is open to new suggestions from stakeholders
New Delhi: A ministerial panel is weighing options for the sale of a stake in Air India Ltd and a final call on how much of the debt-ridden national carrier will be divested has not been taken yet, said civil aviation minister Ashok Gajapathi Raju.
In an interaction with reporters, Raju said the panel, led by finance minister Arun Jaitley, is open to new suggestions from stakeholders. The panel is working on splitting the company into different entities for easier divestment, the minister explained.
The committee’s next meeting has not yet been finalized, said an official who asked not to be named.
Mint had reported on 15 January, quoting a Bloomberg interview of minister of state for aviation Jayant Sinha, that the airline will be broken into four units and at least 51% in each will be offered to potential buyers.
The government expects the stake sale process to be completed by the end of 2018.
“There is no final decision yet. A lot of thinking is going on. Anybody is welcome to make suggestions," the minister said.
Raju said divestment will aid Air India’s turnaround as it was part of a highly competitive service industry which required swift and often, intuitive decision making.