Hardeep Puri said – the only option to sell or close Air India, the government will sell 100% stake

Aviation minister Hardeep Singh Puri said that this time the government is fully ready. He has no hesitation. Will be sold to Air India by May or June

Union Minister for Civil Aviation Hardeep Singh Puri said that there are only two options before the government regarding Air India, be it closed or made completely private. The government chose the second option. Puri said on Saturday that 100 percent stake of Air India will be sold.

Air India in debt of 60,000 crores
He told ANI, ‘We have decided that the government will sell its 100 percent stake in Air India. We did not have the option to do private or not. Rather it was an option to make it private or to stop functioning. Air India is a first rate asset but it has incurred a debt of Rs 60,000 crore. We have to end the debt burden.

Earlier on Friday, Hardeep Singh Puri said that the government is working on a new timeline for the disinvestment of Air India. Bids will be called for the disinvestment of Air India in the coming few days.

Air India will be sold by May-June?

He said, ‘Air India is the sole proprietorship of the government. It is looking for buyers for 100 per cent stake in it. He further said that in the meeting held on Monday, it was decided that the shortlisted companies would be told that the bidding would have to be done within 64 days. This time the government is fully ready. He has no hesitation. The Union Minister said that Air India will be sold by May or June