Air India is one of the government owned airlines that is considered to the pioneer of flights in India. In a big reveal from the officials we have came to know that Modi Government is planning to sell 76 percent stake in Air India. The report is revealed from preliminary information memorandum released today on strategic disinvestment of the national carrier.
Government is not only planning to sell the share but also transfer the management control of the employees of Air India. According to the memorandum the transaction will involve Air India, its low cost arm Air India Express and Air India SATS airport Services Pvt Ltd. This is said to be a joint venture between The national Carrier and Singapore based SATS Ltd.
As the Airline have a Debt Burden of over Rs 50,000 Crore a principle Nod to the Strategic Divestment of the Airline by the Cabinet of Economic Affairs. After the decision a committee was setup headed by Arun Jaitley to check the issue.
The implication of this could lead to the change in the management strategies and also could change the way the airline is headed in the future. This is the time when the Airlines is at its all time low and is hardly generating any revenue, this decision by the government could prove to be a blessing in Disguise and could make the Airlines work a bit more smoothly.
As we still await for a final verdict we will see where this decision will take the AIR INDIA.