INSUBCONTINENT EXCLUSIVE:
Hyderabad: As state carrier Air India found no takers in government's bid to sell its 76 percent stake, the Centre is now contemplating
infusing fresh capital into it, a top official said on Thursday
Civil Aviation Secretary R
Choubey said a decision on infusing fresh capital would be taken very soon.He also clarified that the government has yet not given up on the
disinvestment plan, however, the same would be taken up once the conditions become favourable, he said.While speaking to reporters on the
sidelines of an event, Mr Choubey hinted that while putting in fresh capital, a timeline would be set for Air India to deliver."No support
is given without some kind of timeline being determined
Whenever the government extends support, there will be a corresponding timeline given to Air India to deliver on those expectations," he
said adding that the government will extend all help to the carrier to improve its performance.He said the government was committed to
disinvestment in Air India and it would go ahead with the plan when conditions are favourable
"At present, the conditions are not quite favourable
So, we are reviewing the situation," he said."We are committed to disinvestment at an appropriate time, when the situation improves and when
we judge that there is a demand, we would certainly proceed again with the process," he added.The government offered to sell 76 percent
stake in Air India and the bidding process ended on May 31
