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Ministerial group on Air India yet to hold meeting on its disinvestment, says Gadkari
By TOG News Service
Jul 13, 2017

TOG News Service, New Delhi, July 13, 2017: As part of efforts to revive the loss-making airline, the Cabinet last month gave its in-principle approval for considering strategic disinvestment of Air India and five of its subsidiaries. A group of ministers, headed by Finance Minister Mr. Arun Jaitley, has been set up to look into various aspects of Air India disinvestment.

The group of ministries set up to decide on the modalities for Air India disinvestment is yet to hold its first meeting, panel member and Union Minister Mr. Nitin Gadkari said on Wednesday.

Air India has a debt burden of more than Rs 52,000 crore. A few players have evinced interest in the debt-laden national carrier. The group would look into the treatment of unsustainable debts of the national carrier, hiving off certain assets to a shell company and de-merger and strategic disinvestment of three profit-making subsidiaries, among others.

It is surviving on little over Rs 30,000 crore bailout package extended by the previous UPA government.