March 1, 2017 TnH Global

Govt is not selling 51% in Air India says Civil Aviation Secy

The Civil Aviation Secretary has denied talks about a possible stake sale by the government in Air India. Bloomberg had earlier reported quoting unnamed sources that the government was planning to sell a majority stake (51%) in Air India.

However, Civil Aviation Secretary R N Choubey has now denied the move. The report said that the plan was to revive Air India after five years of selling 51% stake. At the time, Air India and the Finance Ministry had both declined to comment.

Air India accounts for 14% market share in the domestic market amid tough competition from budget fliers. Several turnaround packages from the government including a Rs 30000-crore bailout have failed to revive the national carrier.

News Source: www.dnaindia.com