Govt open to listing Air India after failed disinvestment plan

New Delhi, Jun 13: The government is open to listing ailing state carrier Air India, a government source said on Wednesday, after failing to attract buyers for a 76% stake in the company. While the government is considering several proposals related to reviving the divestment process, it will not allow complete foreign ownership of the airline, the source said, declining to be named before a final decision is reached. One of the proposals could involve the government retaining a share in the debt-laden carrier and selling it at a later date so it can capitalise on any financial upside that may occur from listing the airline, the source said.
The government may also consider reducing the debt it passes on to potential buyers and restructuring the large workforce, another senior government official told Reuters.
“We will take a decision in next few days on changing conditions before inviting fresh bids,” the official said, adding that the government is committed to selling its stake in the national carrier in the current financial year but could defer it if it fails to get the right price. (Agencies)