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Friday, 29 December, 2017, 11 : 00 AM [IST]

Government in no mood to reconsider the decision to privatise Air India

There is no proposal to reconsider the decision to privatise Air India, which has a debt of INR 51,890 crore till September this year, the government informed Parliament on Thursday. To revive the loss-making national carrier, the government is working on the modalities for its strategic disinvestment. To a question in the Lok Sabha on whether the government proposes to reconsider its decision to sell out the debt- ridden Air India and its auxiliary companies, Jayant Sinha, Minister of State for Civil Aviation, Government of India replied in the negative.

The total outstanding loans of Air India as on 30 September 2017 stand at INR 51,890 crore as per provisional figures cited by Sinha. Of this, aircraft loans account for INR 18,364 crore and working capital loans are at INR 33,526 crore. In 2016-17, the airline had a net loss of INR 3,643 crore, while operating profit rose to INR 215 crore, the provisional figures showed. The government also informed Parliament that there had been a ban on direct recruitment in Air India for nonoperational categories of employees and that the total number of regular employees of Air India as on November 2017, is approximately 14,006 down from approximately 32,600 at the time of its merger in August 2007. 

Source: PTI
 
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