Centre to go ahead with disinvestment process of Air India: Ministry of Civil Aviation
PTI, Jun 28, 2019, 9:55 AM IST
New Delhi: Continued support from the government has resulted in an improvement of the financial and operational performances of Air India and the Centre has decided to go ahead with the process of its disinvestment, the Ministry of Civil Aviation said on Thursday.
“In an AISAM (Air India Specific Alternative Mechanism) meeting held on 28th March 2018, it was decided that due to issues like volatile crude oil prices and adverse fluctuations in exchange rates, the atmosphere was not conducive for the disinvestment. But this was last year,” the ministry said in a statement.
The AISAM, which is basically a Group of Ministers (GoM), has to be reconstituted as Arun Jaitley and Suresh Prabhu are no longer ministers in the second innings of the Narendra Modi government.
They will be replaced by Finance Minister Nirmala Sitharaman and Civil Aviation Minister Hardeep Singh Puri. Transport Minister Nitin Gadkari is likely to continue in the panel.
“Continued support from the government has resulted in improvement of financial and operational performances of Air India. As per the recommendations of the AISAM, the government will now go ahead with the process of disinvestment of the company,” the ministry said.
At a meeting on June 28, 2017, the Cabinet Committee on Economic Affairs (CCEA) had in-principle approved the consideration for strategic disinvestment of Air India and its five subsidiaries. The AISAM was constituted by the CCEA for this purpose.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Reverse migration has begun, says FM Nirmala Sitharaman
Markets sustain winning streak — Sensex jumps over 560 points, Nifty tops 22,300-level
Sensex climbs 640 points, Nifty tops 22,300-level in early trade
Insurance regulator IRDAI abolishes age restriction on health insurance product
Elon Musk says India visit delayed due to Tesla obligations
MUST WATCH
Latest Additions
ISRO Gears Up to Test Critical Parachute Safety of Gaganyaan
Farooq Abdullah hits back at Modi’s mangalsutra remarks, says, ‘Our religion does not tell us to look down at other religions’
UGC warns against ’10-day MBA’ programme, misleading abbreviations for degree nomenclature
Modi will go to jail if electoral bonds ‘scandal’ is investigated: M B Patil
Delhi police detains shopkeeper over biryani served on plate with Lord Ram image, releases him later