Air India disinvestment process going on extremely well: Puri
The disinvestment process for Air India is going on "extremely well", Civil Aviation Minister Hardeep Singh Puri said on Friday. On January 27, the government came out with a Preliminary Information Memorandum (PIM) for Air India disinvestment.
It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.
This is the second attempt by the government in as many years to divest Air India, which has been in the red for long. On Thursday, international airlines' grouping IATA said Air India's disinvestment process might be "quite difficult at this moment" amid the coronavirus outbreak which will hit the global market for Indian carriers as well as inbound tourist traffic into the country.