Plan to sell state-run carrier Air India still on track, clarifies govt

The govt injected Rs 3,975 cr into the airline in the fiscal year that ended March 31 and hived off some debt and the Ministry of Civil Aviation said on Thursday that the carrier was ready for sale

India clarified on Thursday that plans to sell debt-laden state-run carrier Air India were still on track, hours after a junior minister told parliament the privatisation was on hold because of high oil prices and volatile exchange rates.

India failed last year in its attempt to sell a 76% stake in loss-making Air India due to a lack of interest from bidders, but said it would return with an alternative proposal soon.

The government injected Rs 3,975 crore ($576 million) into the airline in the fiscal year that ended March 31 and hived off some debt and the Ministry of Civil Aviation