22
Monday
January 2018
7:54 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
Business News
AI debt unsustainable, should go to private hands: Panagariya
 
New Delhi, Jun 22 (PTI) Air India 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 today.

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 is 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.

Panagariya said further that something should be happening this year with respect to Air India.

"We are in June, so we have six months (more) this year.

You know, actually something happens or not depends on buyers but from the government side, we should see some action in the next six months," he added.

Noting that successive governments recognised the problems with the airline but failed to act on them, Panagariya said Prime Minister Narendra Modi is bolder and more decisive.

Air India is surviving on Rs 30,000 crore bailout package extended by the previous UPA government.

Recently, Finance Minister Arun Jaitley had said the aviation ministry has to explore all possibilities "as to how the privatisation of Air India can be done".

On Wednesday, sources said Tata group was evaluating options on buying stake in the airline.

Air India traces its roots to Tata Airlines, which was formed way back in 1932. Set up by Tatas, the carrier was made a public company and was rechristened as Air India. Later, it was nationalised.

Tatas had tried to acquire stake in Air India earlier as well.


US dollar ends dearer against rupee
Sensex hits new peak at 35,664.01, Nifty at 10,926.45
I-T notices to cryptocurrency investors on suspicion of tax evasion
Trai gives approval for mobile calls, net surfing while flying
HSBC InvestDirect Securities settles case with Sebi
SBI to raise Rs 20,000 cr for affordable housing, infra
Sensex hits 35,000 mark as IT stocks lead gains
Bitcoin, other cryptocurrencies tumble on government crackdown worries
Sensex, Nifty extend gains to hit fresh highs
Passport may no longer serve as address proof
Rupee extends losses against US dollar in late morning trade
Stocks scale fresh record high as Coal India spurts
Sensex at new high on fund inflows; Nifty above 10,600
CBDT relaxes norms for MAT on firms facing insolvency
Indian ports set to double their profit: Gadkari
Sensex, Nifty hit new record high on fund inflows
Gold strengthens on sustained demand, silver recovers
Govt extends compulsory jute packaging for foodgrains, sugar
Sensex succumbs to late sell-off; auto, IT slip
Anti-dumping duty likely on Chinese chemical imports
KERALA NEWS
Dileep has actress attack visuals with him, says prosecution
 (Angamaly, Jan 22, 2018, DG): The prosecution on Monday said that actor Dileep shouldn't be g  
Political attacks continue in Kannur
Class 10 student meets with tragic end at Thiruvalla
Sivankutty MLA writes to CM to drop case on Assembly violence
INTERNATIONAL NEWS
Pence kicks off Israel visit with Netanyahu meeting
 (Jerusalem, Jan 22, 2018): Vice President Mike Pence kicked off his visit to Israel today wit
Rohingya Muslim refugee return to Myanmar delayed
Kabul hotel attack toll at least 22: officials
Ecuador president calls Julian Assange a 'problem'
NATIONAL NEWS
30-year-old medical representative shot dead in Kanpur
 (Kanpur, Jan 22, 2018): A 30-year-old medical representative was shot dead by two unidentifie
SC tranfers pleas on Loya's death from HC to apex court
2008 Gujarat blasts mastermind held by Delhi police
Pak shells areas along LoC, IB in Jammu
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.