No plans to privatize Air India: Government

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New Delhi: The Government on March 9 ruled out any proposal seeking to convert a part of Air India’s long-term borrowings into equity or privatizing the airline.

Government is not considering inducting banks as strategic investors in Air India or privatising the airline, Minister of State for Civil Aviation Jayant Sinha said in a written reply in Lok Sabha.

Earlier, a section of media had reported that Air India had asked banks to recast its long-term debt of Rs 9,000 crore through the Scheme for Sustainable Structuring of Stressed Assets (S4A).

As part of the airline’s turnaround plan, the minister said till date Rs 24,723.74 crore have been released as equity support to Air India.

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