Govt to consider 49 pct stake sale in Air India: Report

By: | Updated: March 23, 2016 3:23 PM

Air India stake sale: Government is to examine the possibility of selling up to 49 percent of loss-making national carrier Air India, news agency NewsRise Financial reported on Wednesday, citing an unnamed official.

Air India, which last made an annual profit in 2007, has seen its market share shrink in recent years amid rising competition from private carriers. (Reuters)Air India stake sale: The national carrier last made an annual profit in 2007 and it has seen its market share shrink in recent years amid rising competition from private carriers. (Reuters)

Government is to examine the possibility of selling up to 49 percent of loss-making national carrier Air India, news agency NewsRise Financial reported on Wednesday, citing an unnamed official.

The government plans to form a four-to-five member panel, made up of officials from the finance ministry, the civil aviation ministry, the cabinet secretariat and the company, to consider selling a stake in Air India to meet its revenue target from state asset sales next fiscal year, according to NewsRise.

Also read: Govt plans to cut Air India stake to under 51%

Indebted Air India, which last made an annual profit in 2007, has seen its market share shrink in recent years amid rising competition from private carriers. It is now India’s third-largest airline by market share.

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