The disinvestment of cash-strapped Air India is likely to happen by the end of this year, Union Civil Aviation Minister Hardeep Singh Puri said on Friday.
Puri said the disinvestment process of Air India got delayed due to the second wave of the Covid-19 pandemic and assured that the disinvestment process will happen in 2021.
“Air India is getting disinvested. It will take some time due to the pandemic. I want to assure you that it (AI Disinvestment) will happen this year,” the Union Minister told ANI news agency.
The second wave of Covid-19 may slow down the disinvestment process but he has assured that the disinvestment of Air India will be completed in 2021.
Earlier on March 27, 2021, Puri had said that Air India would be brought under a private player in late May or June.
Due to the ongoing Covid-19 pandemic, bidders are unable to travel for physical meetings and an important formality that will have to be done before AI is privatized.
“Air India is still in the debt of ₹60,000 crore and it’s liable to be sold,” Puri had said in a statement.
The aviation minister had also said the interest of Air India employees would be safeguarded whenever the disinvestment process begins.