New Delhi: The independent directors on the board of Air India seem to be pushing for privatisation of the airline and according to two different people close to developments, the directors have communicated as much to the Minister of Civil Aviation A Gajapathi Raju at a meeting earlier this month.
Though nothing has been decided on the matter yet and there has been no formal resolution by the airline's board either, the independent directors' wish could set the ball rolling. Earlier this month, the Heavy Industries Ministry had created a flutter by classifying Air India as "sick", reviving a discussion on whether the Government should get Air India off its hands as its financial situation is not improving despite continuous equity support.
Air India's accumulated losses stood at Rs 5,388 crore, Rs 5490 crore and Rs 7,559 crore in 2013-14, 2012-13 and 2011-12, respectively.
One of the people cited above said there has been some talk of initiating the process of privatisation, by starting with two businesses which were earlier spun off from the airline - engineering and ground handling.
30/03/15 Sindhu Bhattacharya/First Post
Though nothing has been decided on the matter yet and there has been no formal resolution by the airline's board either, the independent directors' wish could set the ball rolling. Earlier this month, the Heavy Industries Ministry had created a flutter by classifying Air India as "sick", reviving a discussion on whether the Government should get Air India off its hands as its financial situation is not improving despite continuous equity support.
Air India's accumulated losses stood at Rs 5,388 crore, Rs 5490 crore and Rs 7,559 crore in 2013-14, 2012-13 and 2011-12, respectively.
One of the people cited above said there has been some talk of initiating the process of privatisation, by starting with two businesses which were earlier spun off from the airline - engineering and ground handling.
30/03/15 Sindhu Bhattacharya/First Post
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