Government mulls infusing fresh capital in Air India

Hyderabad, July 5 (IANS) With debt-laden Air India finding no takers, the Central government is now mulling to infuse fresh capital into the state-owned carrier, a top official said on Thursday.

Civil Aviation Secretary R. N. Choubey said a decision on infusing fresh capital would be taken very soon.

Stressing that the government has not given up the disinvestment plan, he said the same would be taken up once the conditions become favourable.

Talking to reporters on the sidelines of an event here, Choubey hinted that while putting in fresh capital, a timeline would be set for Air India to deliver.

“No support is given without some kind of timeline being determined. Whenever the government extends support, there will be a corresponding timeline given to Air India to deliver on those expectations,” he said adding that the government will extend all help to the carrier to improve its performance.

He said the government was committed to disinvestment in Air India and it would go ahead with the plan when conditions are favourable. “At present, the conditions are not quite favourable. So, we are reviewing the situation,” he said.

“We are committed to disinvestment at an appropriate time, when the situation improves and when we judge that there is a demand, we would certainly proceed again with the process,” he added.

The government offered to sell 76 percent stake in Air India and the bidding process ended on May 31. However, the state-owned carrier, which has accumulated losses of Rs 46,805 crore, failed to attract any bidder.

MEA slams vandalisation of Gandhi statue by Khalistani separatists in Italy

New Delhi: The Ministry of External Affairs (MEA) said on Wednesday that it has already raised the issue of vandalisation of a statue of Mahatma Gandhi by Khalistani separatists in...

Issues with China & Pakistan need to be resolved: S. Jaishankar after assuming office

New Delhi: External Affairs Minister (EAM) S. Jaishankar on Tuesday said that China and Pakistan are two distinct countries and India is committed to resolve the issues with both countries....

Jaishankar meets Maldives President Muizzu, says looking forward to working together closely

New Delhi: Union Minister S. Jaishankar called on the visiting Maldives President Mohamed Muizzu in New Delhi on Monday as both countries look afresh at bilateral ties at the start...

UP BJP ready with report on ministers’ non-performance in polls

Lucknow: The Uttar Pradesh BJP have prepared a report on the performance of ministers and legislators who lost their constituencies in the Lok Sabha elections. “The report will be sent...

Europe is no longer a continent of peace: Zelensky in Paris

Paris: Ukrainian President Volodymyr Zelensky on Friday told the French parliament that Europe was a continent at war and that Russia would not stop its aggression at the borders of...

Australia seeks inputs on developing ‘new roadmap’ for closer economic engagement with India

New Delhi: The Australian government has invited public submissions as it prepares a new roadmap for the country's closer economic engagement with India. The roadmap will not only take stock...

India expects to secure long-term deal to operate Iran’s Chabahar port

Mumbai: India is expected to secure a long-term arrangement for the management of Iran’s Chabahar sea port which would clear the way for strengthening economic ties between the two countries,...

It is in our common interest that we reach an understanding to take our relationship forward, EAM Jaishankar tells Maldives Foreign Minister

New Delhi: India on Thursday reminded Maldives that it has been a key provider of development assistance to the island nation and several projects funded by New Delhi have benefited...

Unwarranted & unsubstantiated imputations on serious matter: India on US media report on Pannun plot case

New Delhi: India on Tuesday said a report published by a media outlet in the US made unwarranted and unsubstantiated imputations on a serious matter involving an alleged plot to...

Crew on seized cargo ship to be released soon, assures Iran Foreign Minister

New Delhi: The 16 remaining Indian crew members on board a cargo ship seized by Iran are set to be released soon, Iran Foreign Minister Hossein Amir-Abdollahian assured his Portuguese...

India exemplifies how digital revolution can become accessible to millions: UNGA President

United Nations: India exemplifies how the digital revolution can be made accessible to millions and become "a fundamental driver of social transformation and progress", according to UN General Assembly President...

India calls for ‘gender-responsive arms control’ to prevent sexual violence in conflicts

United Nations: To combat sexual violence in conflict situations, India has advocated a multifaceted approach which includes “gender-responsive arms control” that prevents the proliferation of weapons. “Demilitarisation, intertwined with disarmament,...

Read Previous

S C notice to Centre, states on PIL to secure rights of orphan kids

Read Next

India’s domestic air passenger traffic grows due to network expansion: IATA

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com