TIL Desk/Business/New Delhi/ The government remains committed to the disinvestment of Air India but has no plan to exit the national carrier altogether, Union minister Jayant Sinha said today. The proposed stake sale in the debt-laden airline failed to take off as it did not receive any Expression of Interest (EoI) from potential bidders when the deadline ended on May 30.
The government is also working on ways to improve the performance of Air India. Against this backdrop, Sinha told the Rajya Sabha that the government remains committed to the disinvestment of Air India. In a written reply, the Minister of State for Civil Aviation said the government “has no such plan to exit Air India altogether”.
“In view of volatile crude prices and adverse fluctuations in exchange rates, the present environment is not conducive to stimulate interest amongst investors for strategic disinvestment of Air India in the immediate near future. “The issue would be revisited once global economic indicators, including oil prices and forex conditions stabilise,” he said.
