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Mon, Sep 24, 2018 | Last Updated 8:48 am IST

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The reason why Air India frightens people!

The reason why Air India frightens people!
The reason why Air India frightens people!
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Air India, the once upon a time Indian airlines major, has been now burdened with debts, bad loans, and more troubles. Every year, the government has been facing hardships in running the airlines, though there are no profits for the company, and there are only huge losses reported every year. It was in such an economic crunch situation that the central government decided to sell Air India citing lack of fund. 

       


However, most of the service organizations which initially displayed interest to take over Air India had exited and escaped sooner. The reason behind none of the companies coming forward to take over Air India has now been identified. Though the government has decided to sell shares of AI, it has decided to keep on hold 24% shares with itself. Niti Ayog had advised the government to sell the whole of shares. 

 The reason why Air India frightens people!

But the central government, with an aim to get shares of the profit in future, decided to hold 24%shares. However, no party is coming forward to acquire 76%shares alone. The talks with airline majors like SpiceJet, Jet Airways, Indigo, Tata, had failed. Now, the government has decided to sell all the properties associated with Air India. It has 100 Boeing and Airbus and has permissions to ply to 2543 airports. In 2001, Singapore Airlines had sold Air India shares and exited the deal.

 The reason why Air India frightens people!

The reason why Air India frightens people!
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