(a) the present financial status of Air India;
(b) whether the Government has got any private party for taking over the Air India;
(c) whether Air India is a PSU set up under strategic plan to cater the needs of Government as well as to provide better aviation services to the citizens;
(d) whether the Government intends to revive the Air India and if so, the details thereof and if not, the reasons therefor?
The Minister of State (IC) in the Ministry of CIVIL AVIATION
(Shri Hardeep Singh Puri)
(a): Air India Ltd has been suffering continuous losses and the COVID pandemic alongwith its related impact on aviation industry has further worsened the financial position of the Company. During the lockdown period Air India had skeletal operations of Charters/Vande Bharat flights. In Qtr.I of FY 20-21, Air India has recorded a loss of about Rs 2570 crore.;
(b): The Preliminary Information Memorandum (PIM) for inviting Expression of Interest for sale of 100% equity share capital of Air India Limited (AIL) including AIL''s 100% shareholding in the Air India Express Limited (AIXL) and 50% shareholding in Air India SATS Airport Services Private Limited (AISATS) has been issued on 27.01.2020. However, in view of prevailing situation arising out of COVID 19, last date for submission of EOIs has been extended to 30.10.2020. The Expression of interest in response to PIM by any group or entity will be submitted to the Transaction Advisor. The date of intimation to Qualified Interested Bidders has also been extended to 20.11.2020.
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(c): Air India Limited represents the merged company, which came into existence post the amalgamation of Indian Airlines Limited and Air India Limited on 1st April 2007. Air India is a company wholly owned by the Governmnet of India. Air India is committed towards providing excellent service to its customers.
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(d): In order to effectively prepare Air India for disinvestment, a meeting was held on 07.09.2018 under the Chairpersonship of the then Finance Minister wherein the plan to bring operational and financial efficiency in Air India was finalised. The Plan focused on the financial and operational efficiencies so that substantial increase in revenue or cost saving can be achieved. Also, as decided in the meeting, operational and financial performance parameters and milestones were fixed by the Government and are regularly reviewed. The Government remains committed to the disinvestment of Air India.