Placeholder canvas

Centre to go ahead with Air India disinvestment

Date:

The Central government will go ahead with the process of disinvestment of Air India, said the Ministry of Civil Aviation in a statement on Thursday.

The ministry said that in a meeting on June 28, 2017, the Cabinet Committee on Economic Affairs (CCEA) had in principle approved the consideration for strategic disinvestment of Air India and its five subsidiaries.

ALSO READ: L&T Hydrocarbon Engineering wins two large contracts from ONGC

An Air India Specific Alternative Mechanism (AISAM) was constituted by the CCEA for this.

In an AISAM meeting held on March 28, 2018, it was decided that due to issues like volatile crude oil prices and adverse fluctuations in exchange rates, the atmosphere was not conducive for the disinvestment. But this was last year, the statement read.

“However, continued support from the government had resulted in the improvement of financial and operational performance of Air India. As per the recommendations of AISAM, the government will now go ahead with the process of disinvestment of the company,” the ministry further said in the statement.

(ANI)

For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Rajinikanth’s Thalaivar 171 First-Look Poster Drops

In a series of surprising announcements, fans were first...

Orry Faces Backlash After Declining Handshake At Event

Internet sensation Orry, famed for his wild antics and...

From Deepfake Concerns To India’s AI Mission PM Modi Interacts With Bill Gates

New Delhi: Prime Minister Narendra Modi engaged in a...

NewsMobile Morning Brief

Actor Govinda Joins Eknath Shinde’s Shiv Sena Ahead Of...