Govt to sell 100% stake in Air India: H.S. Puri

Union Minister Hardeep Singh Puri said on Thursday that the government is going to sell its entire 100% stake in Air India under the proposed disinvestment process. The national carrier has a debt burden of more than INR 50,000 crore.

“After formation of the new government, Air India Specific Alternative Mechanism (AISAM) has been reconstituted and the re-initiation of the strategic disinvestment of Air India has been approved”, the Minister of State for Civil Aviation said in a written reply to the Lok Sabha.

The minister also spoke about Airport Authority of India’s move to improve the sector – investment of over INR 25,000 crore in next five years for development/ upgradation/ modernisation of various airports and air navigation infrastructure.