Privatisation of Air India possible if political will prevails: Ajit Singh
Air India is saddled with a loss of Rs 15,000 crore accumulated over the last four years.
Zee Media Bureau
New Delhi: Civil aviation minister Ajit Singh on Saturday hinted that privatisation of India’s ailing national carrier— Air India can be done if there is a political consensus on the same.
As per media reports, Singh has said that it is the only way to save the cash-strapped airlines.
Air India is saddled with a loss of Rs 15,000 crore accumulated over the last four years but is currently surviving on a bailout funded by the tax payers’ money. The national carrier had last year faced about two-month-long strike by its pilots.
Air India had managed to contain its losses, but depreciation of rupee hit it hard, as it was facing a loss of Rs 100 crore every month for every rupee depreciated.
The government had last year decided to infuse about Rs. 30,000 crore in Air India over the next nine years as part of a turnaround plan for the state-run airline.