Aviation

The Modi government’s second attempt to sell off Air India may be mistimed—again

India’s Narendra Modi government is leaving no stone unturned in its second attempt to sell off the national carrier Air India, but it may be acting with undue haste.

On Jan. 7, the government formally kick-started the divestment process, by deciding to invite expressions of interest (EoI) for the debt-laden carrier by January-end, The Mint newspaper reported.

The privatisation of Air India is top priority for the Modi government, which is battling a revenue shortfall following last October’s corporate tax cut, and a severe economic slowdown. The sale also assumes significance, given that divestment proceeds in the current financial year are expected to fall short of the government’s ambitious Rs1.05 lakh crore ($15 billion) target.

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Quartz India
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