According to provisional data shared by the Center in the Lok Sabha on Thursday, Air India is expected to suffer a loss of Rs 9,779 crore for the financial year 2020-2021.
Minister of State for Civil Aviation Hardeep Puri said, “With its associated impact on the aviation industry, the COVID-19 epidemic has deteriorated the financial position of airlines in the country.”
Whether the latest losses will affect the privatization of Air India, the minister said, “Air India will be evaluated closer to the financial bid stage.”
The government received a “multiple” price in the interest of the airline under the sale in January 2020 and has been evaluated by transaction advisor EY. As per this process, the advisor will brief qualified disinvesters about the next steps of the proposed disinvestment.
Leave a Reply