No plan to sell off entire government stake in AI: Minister

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New Delhi, Aug 1 (IANS) The government has no plans to sell-off its entire stake in Air India, Parliament was told on Wednesday.

Minister of State for Civil Aviation Jayant Sinha informed the Rajya Sabha in a written reply to a question on whether the government is considering to exit from the airline altogether, instead of holding a 24 per cent stake.

“The government has no such plan to exit Air India altogether,” he was quoted as saying in the reply.

The government had invited Expression of Interest (EoI) on March 28 this year for disinvestment of Air India including the national carrier’s share-holding interest in the Air India Express Ltd and Air India SATS. But it received no response till May 31, the closing day.

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“Probable reasons as analyzed by the ‘Transaction Advisor, i.e, M/s EY’ for non-receipt of bids, inter-alia, are GOI 24 per cent stake and corresponding rights, high amount of allocated debt, changes in macro environment, individuals not being allowed to bid, profitability track record and bidders not being able to form a consortium within given time period,” he said in the reply.

–IANS

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