Government finalises the road-map for privatisation of Air India.

It is a very sad development that, after 65 years of it’s nationalisation, the Air India is all set to be privatised. The government has finalised the terms and conditions for it’s privatisation. Accordingly, 76% shares of Air India, Air India-Express and Air India-SATS will be sold to the potential buyer. The buyer has to take over Rs.24,576 crore of Air India’s total debt of Rs.50,000 crore and the entire Rs.8,816 crore of current liabilities. The Air India is having 11,214 permanent employees ; 7,486 casual workers and 2,913 contract workers. According to the road-map of the government the successful bidder will be chosen in the month of September, 2018.

[Source: Times of India dated 29.03.2018]