Search the Internet          Tips  Sites: Finance, Investment

No divestment of IA, A-I for next 18 months

Divestment of Indian Airlines and Air-India is not on the agenda of the government for the next year and a half, Planning Commission member N K Singh said on Friday.

"I met Pradeep Baijal (divestment secretary) five days ago on the agenda for divestment outlined by the Department of Divestment for the next 18 months. Air-India and Indian Airlines does not figure in that list," he said while addressing a seminar on aviation organised by CII in New Delhi.

Singh said the process to divest both Indian Airlines and Air-India should begin as and when there was credible data to prove that the sell-off would not prove detrimental to the government.

Defending the recent decision of the government to give four metro airports on long-term lease through the route of a joint venture, Singh said, "there is no difference of opinion at present that this is the best way forward".

Singh said the government would soon withdraw the amendment to the Airports Authority Act, which has been introduced in Lok Sabha and circulate a Cabinet note for allowing joint ventures for leasing out of airports.

"Government will maintain a minority stake with the joint venture partner enjoying management control," he said adding that in due course government stake could be watered down.

ALSO READ:
Air-India: Of divestment and other issues
More Money Headlines