Aviation Minister Announces 100% Privatization of Air India

Privatization of Air India

Last updated on Nov 15th, 2023 by Heena Ganotra

The much-delayed privatization of India’s National Carrier, Air India, is likely to be complete by May-end, said Hardeep Singh Puri, the Civil Aviation Minister. Adding to this, he even mentioned that the choice that Air India has is only between disinvestment and closing down the company. 

“We’ve decided that Air India will be 100% disinvested. The choice isn’t between disinvestment and non-disinvestment, it’s between disinvestment and closing down. Air India is a first-rate asset but has an accumulated debt of Rs 60,000 Crore. We need to draw the slate clean,” Civil Aviation Minister said.

“In the last meeting, on Monday, it was decided that the shortlisted bidders (for Air India disinvestment) be informed that the bids have to come in within 64 days. This time the Govt is determined and there is no hesitation,” he said. He added that the disinvestment process is likely to be completed by May-end or June beginning.

book flights to India

Why Is Air India Being Privatized?

The government is all set to sell its entire 100 per cent stake in Air India because there’s absolutely no other option. Air India can either be privatized or closed. Between the two gloomy options, the former sounds better and thus, the government is proceeding with the same.

Despite Air India making money, it bears a loss of Rs 20 crore every day. This mismanagement by the airline has cost the airline a total debt of Rs 60,000 crore.  

Why Were The Previous Attempts At Privatizing The Airline Unsuccessful?

In the interview, Hardeep Singh Puri said that the previous attempts at privatizing the airline haven’t been successful because they were all half-hearted. But now, he added that he doesn’t have the energy to “keep going to Nirmala Ji and say please give me some money.” 

How Will The Airfares Be Affected?

The airfares are likely to be increased. However, nothing can be said for sure. In any case, you can have the cheapest flights from Australia to India and back with MyTicketsToIndia. Being the quintessential flight-booking platform, we follow the lowest airfare policy and offer the industry’s best discounts. 

Get in touch with us to enjoy the best and cheap flight deals on Australia international flights from/to India by calling us today! 

Other Related Articles

Air India’s Flight Schedule From/To Australia For August 2022  

About Heena View All Posts

A writer by both passion and profession, Heena Ganotra is "half agony, half hope" but all heart. And oh, she has been a book lover from the start! Her love for books is what convinced her to make a career in the wonderful world of words. She loves what she does and is out-and-out a satisfied soul with a wish to spread happiness and kindness in abundance. Insight- Some say she is living the best life anyone could because she reads, writes, travels, and makes merry. They’re right because what else does one really need! :)

Discuss this post ?

Your email address will not be published. Required fields are marked *

1 Adult, Economy

Helpful Links

Melbourne To Bangalore Flights Brisbane To Ahmedabad Flights Adelaide To Amritsar Flights Perth To Trivandrum Flights Flights to Trivandrum Sydney To Bangalore Flights Melbourne To Chennai Flights Melbourne To Cochin Flights Last Minute Flights to India Flights to Chennai Melbourne To Coimbatore Flights Adelaide To Hyderabad Flights Perth To Kochi Flights Sydney To Trivandrum Flights Perth To Kolkata Flights Sydney To Mumbai Flights India to Sydney flight Fly Now Pay Later Sydney To Pune Flights Virgin Australia flights Flights to Delhi Business Class Flights to India Adelaide To Trivandrum Flights Adelaide To Delhi Flights Adelaide to India Flights Adelaide To Mumbai Flights Brisbane To Kolkata Flights Air India Delhi to Sydney Brisbane To Hyderabad Flights Sydney To Chennai Flights Sydney To Delhi Flights 
fathers day flight deals live
Fly To India with Upto $50* Off! Use Code