A plan is also being worked out by the Air India board and the situation is under review, Mr Sinha told reporters today. The government is committed that Air India remains an independent, globally-competitive and a highly-successful airline, he said.
Civil Aviation Minister Suresh Prabhu on Tuesday said the government will review its plans to privatise Air India at a later date. The centre in March had announced a plan to divest a 76-per cent stake in Air India and offload about $5.1 billion of its debt. However, the airline failed to receive any interest from bidders.
The decision to put the Air India stake sale on hold was taken at a meeting chaired by Finance Minister Arun Jaitley on Monday. The centre after the meet also said Air India would soon get funds from the government for its day-to-day operations and will even place orders for a couple of aircraft.
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