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In this disinvestment environment, expecting radical improvement in Air India impractical: CMD

Air India's net loss in 2018-19 was around Rs 8,556 crore; Air Indians are indeed putting in their best even at this critical juncture and that is very very appreciable, says Ashwani Lohani

twitter-logo PTI   New Delhi     Last Updated: December 15, 2019  | 07:43 IST
In this disinvestment environment, expecting radical improvement in Air India impractical: CMD
Air India needs to survive till it is sold, says Lohani

As the central government is planning to invite bids for Air India soon, its CMD said on Saturday that expecting a radical improvement in the airline bordering on a turnaround is an impractical thought "in this environment of disinvestment".

In a Facebook post, Air India Chairman and Managing Director Ashwani Lohani said, "Air India needs to survive till it is sold." "I wonder why is it so difficult for this appreciation to sink in and also that in this environment of disinvestment, expecting a radical improvement bordering on a turnaround is an impractical thought. That output can be given sans inputs is a grossly impractical thought," he added.

Air India's net loss in 2018-19 was around Rs 8,556 crore. Lohani said: "Air Indians are indeed putting in their best even at this critical juncture and that is very very appreciable."

On Dec 5, Civil Aviation Minister Hardeep Singh Puri had told Parliament that the preparation of Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EoI) for Air India disinvestment is in process.

According to the October data of aviation regulator DGCA, low-cost carrier IndiGo carried around 47 per cent of domestic passenger traffic. SpiceJet and Air India were at number two and three with around 15 per cent and 13 per cent share, respectively.

Also read: Govt to sell 100% stake in Air India, says Hardeep Singh Puri

Also read: Air India net loss at all-time high of Rs 8,550 crore in FY19, says aviation minister

Also read: Difficult to run Air India if we don't sell it: Aviation Minister HS Puri

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