The Civil Aviation Minister, Ashok Gajapathi Raju said government doesn’t want Air India to become obsolete like Kingfisher Airlines. He said the government does not want anyone working in Air India to lose a job. Today, in the Lok Sabha, Raju said that the disinvestment process of the national carrier has been initiated and nobody wants anyone to become unemployed. Also, he added that “We don’t want Air India airlines to go the same way as the Kingfisher airlines. In fact, he said, We want Air India Airlines to serve the nation, for the people and to fly high.”
Today, during the question hour in the Lok Sabha, Raju said a ministerial committee headed by Finance Minister Arun Jaitley is looking into the matter of Air India disinvestment. And anyone, including MP’s, are welcomed to give their suggestions on the matter to this panel. As per the reports, on June 28, the Union Cabinet had cleared the disinvestment of the debt-laden by Air India including the quantum of stake sale. And now it would be decided by a group of ministers headed by the finance minister.
Air India Airlines has been in the red for long and various proposals including Modi government’s Niti Ayog recommendation to complete privatisation and surviving on the taxpayer’s money. National airline Air India has a debt of more than around Rs 52,000 crores while it is surviving on a Rs 30,000 crore bailout package which is extended by the UPA government (Congress party) in 2012. In 2003, the Kingfisher Airlines was established by Vijay Mallya. Later on, the Directorate General of Civil Aviation suspended the Kingfisher carrier after it has failed to address the regulator’s concerns about their operations. Also, the Kingfisher Airlines has defaulted on loans from various Indian banks amounting to Rs 9,000 crore.