Finance Minister Arun Jaitley has favoured disinvestment of the misfortune-making Air India, the flag carrier airline of India. The minister said, the airline’s market share is just around 14 per cent whereas the debt burden is 50,000 crore rupees. It indicates possible stake sale in Air India, which is staying afloat on taxpayers’ money.
Mr Jaitley, at a programme, said, to run Air India, around 50,000 crore rupees have been put in and that money could have been used for promoting education.
Air India, which is getting by on a 30,000-crore rupees bailout bundle spread more than 10 years declared by the UPA government in 2012, is working on ways to improve its financial position.