1/12
This is not an appropriate time to divest government stake in Air India, which should be given at least five years to revive and its debt written off, a parliamentary panel is likely to tell the government.
In This Pic : Air India
Pic Courtesy : BCCL - Non Copyright
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2/12
The panel is also understood to have concluded that the equity infusion in the national carrier, as part of the turnaround plan (TAP), was made on a "piece meal basis", adversely affecting its financial and operational performance and "forcing" the airline to take loans "at a higher interest rate to meet the shortfall".
In This Pic : Air India
Pic Courtesy : BCCL - Non Copyright
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3/12
The Parliamentary Standing Committee on Transport, Tourism and Culture concluded that the government should review its decision to privatise or disinvest Air India and explore the possibility of "an alternative to disinvestment of our national carrier which is our national pride".
In This Pic : Air India
Pic Courtesy : BCCL - Non Copyright
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4/12
Observing that Air India has always "risen to the occasion" at times of need like calamities, social or political unrest in India or abroad, the Committee said "it would be lopsided to assess and evaluate the functioning of Air India solely from business point of view, as has been done by the NITI Aayog."
In This Pic : Air India
Pic Courtesy : BCCL - Non Copyright
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5/12
In its revised draft report on the airline's proposed disinvestment, the panel noted that the TAP and financial restructuring plan (FRP) was for a period of 10 years from 2012 to 2022 and Air India has shown "an overall improvement in various parameters and every indication is that it is coming out of the red".
In This Pic : Air India
Pic Courtesy : BCCL - Non Copyright
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