Govt invites interested bidders for strategic disinvestment of Air India: Hardeep Puri

Civil Aviation Minister Hardeep Singh Puri on January 27 informed that the newly constituted Air India mechanism, headed by Home Minister, has approved to invite expression of interest from the interested bidders for a strategic disinvestment of Air India. Hardeep Singh Puri said, "Due to its accumulated debt of around Rs 60,000 crores, the financial position could be described as very fragile and Air India can only be described as being under a debt trap." "Employees dues with arrears will be paid by the Air India assets holding company before the closing of the proposed transaction," Hardeep Singh Puri further added in a press conference.