Another attempt to sell Air India, this is the government's plan||AllBestNews||

Another attempt to sell Air India, this is the government's plan

Another attempt to sell the government airline, AI, has already started. A new proposal is being prepared for this.

A new proposal is being prepared for the sale of Air India, the country's official airline. The new proposal being prepared by the finance ministry is also likely to include issues such as crude oil prices and fluctuations in exchange rates.

The reason the consultant company had told

Advisory company EY last year had counted them for possible reasons, due to which Air India had not got any buyers. In fact, the government had invited bids for 76% stake in Air India and management control last year but no one has bid for it.

After this, the company consulting firm EY had prepared a report about mergers and acquisitions, in which the reasons for the failure of the sales process were mentioned. For these reasons, 24 percent of the government's share, excessive debt, changes in crude oil prices and exchange rate fluctuations, changes in macroeconomic environment and other factors were counted.

At present, the new proposal of the Ministry of Finance will be referred to the AI-based alternative mechanism (AISAM). AISAM is a group comprising ministers attached to the Ministry of Finance and Civil Aviation.

AISAM had discussed the report of EY

According to a news agency PTI, an official said that the report of the EY was discussed in AISAM's meeting in June last year. After this Air India's sales process was postponed. The official said, "We will keep a new proposal before AISAM on the sale of AI. The issues raised after the failure of AI's disinvestment last year will also be included. AISAM has to decide whether the government will sell 100 per cent stake or 76 per cent. '