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Air India’s debt unsustainable; action in 6 months: NITI Aayog
Air India (AI) should be privatised as its debt level is ‘simply not sustainable’ and government action on the airline’s future course is likely within six months, NITI Aayog vice chairman Arvind Panagariya said here on Thursday, while hinting government’s action in next six months.
New Delhi: Air India (AI) should be privatised as its debt level is ‘simply not sustainable’ and government action on the airline’s future course is likely within six months, NITI Aayog vice chairman Arvind Panagariya said here on Thursday, while hinting government’s action in next six months.
The government is looking at various options, including possible privatisation, to revive the loss-making national carrier and Tata group is believed to be interested in buying stake in Air India.
“I think really where Air India stands now, it’s almost a matter of existence. The debt is already about Rs 52,000 crore and we are adding of Rs 4,000 crore debt every year so this is simply not sustainable,” Panagriya said.
In an interview to CNBC-TV18, he said: “In the end, I think the airline does need to go with management in the private hand.”
While discussions are going on to decide the future course of action for Air India, Niti Aayog has recommended complete privatisation of the airline.
