NITI Aayog Vice Chairman Says AI Debt unsustainable
DSIJ Intelligence / 23 Jun 2017
Panagariya stated that the government is likely to decide the future action plan for the national carrier within the next six months.
Niti Aayog Vice Chairman Arvind Panagariya, in an interview with a national business channel on Thursday said that Air India should go to private hands as its debt level is unsustainable.
Panagariya stated that the government is likely to decide the future action plan for the national carrier within the next six months. He also added that it is also considering privatisation among other options to revive the debt-burdened organisation.
"I think really where Air India stands now; it is almost a matter of existence. The debt is already about Rs 52,000 crore (and) we are adding of Rs 4,000 crore debt every year, so this is simply not sustainable," he said.
‘Tata Group is believed to be interested in buying stake in Air India,’ said Panagariya.
"In the end, I think the airline does need to go with management in the private hand," he added.
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