Air India Disinvestment Process Going On Extremely Well: Aviation Minister
It has proposed selling 100 percent stake in Air India along with budget airline Air India Express.
The disinvestment process for Air India is going on "extremely well", Civil Aviation Minister Hardeep Singh Puri said on Friday.
On Jan. 27, the government came out with a Preliminary Information Memorandum for Air India disinvestment.
It has proposed selling 100 percent stake in Air India along with budget airline Air India Express and the national carrier's 50 percent stake in AISATS, an equal joint venture with Singapore Airlines. This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.
On Thursday, international airlines' grouping IATA said Air India's disinvestment process might be "quite difficult at this moment" amid the coronavirus outbreak which will hit the global market for Indian carriers as well as inbound tourist traffic into the country.