Choice now between disinvestment or shutting down: Union Minister Hardeep Puri on Air India’s future

Civil Aviation Minister Hardeep Singh Puri Saturday mentioned that Air India will probably be 100 per cent disinvested as the selection now was between disinvestment or closing down.
“We’ve decided that Air India will be 100% disinvested. Choice isn’t between disinvestment and non-disinvestment, it is between disinvestment and closing down. Air India is a first-rate asset but has an accumulated debt of Rs 60,000 crore. We need to wipe the slate clean,” the Union minister was quoted as saying by ANI.
Speaking on the bids that the federal government has obtained thus far, Puri added, “In the last meeting, on Monday, it was decided that the shortlisted bidders for the Air India disinvestment will be informed that the bids have to come in within 64 days. This time, the government is determined and there is no hesitation.”
In 2018, the federal government had floated the Expression of Interest (EoI) for Air India to dump a 76 per cent stake and administration management within the airline nevertheless it didn’t get a single bidder. The authorities at present owns 100 per cent fairness of Air India.