Govt has shelved Air India's disinvestment, working on its revival: Sinha

File photo of Jayant Sinha | Photo: PTI

The Minister of State for Civil Aviation, Jayant Sinha on Tuesday said that the government's disinvestment plan in Air India has been put aside for time being as it is working on the revival of the debt-ridden enterprise.

The strategic sale of the airline has been put on hold in the backdrop of Industry condition.

"The government will consider all option only after the industry condition changes", said Sinha.

Earlier, the Union government reportedly planned to initiate the strategic sale of the four subsidiaries of the airlines. The debt burden carrier has Rs 480 billion as debt by the end of March last year.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel