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Govt shelves plan to sell stake in Air India for now

Jun 27, 2019 22:24 IST

Civil Aviation Minister, Hardeep Singh Puri, has said that plans to sell a stake in debt-laden state-run Air India have been put on hold due to high oil prices and volatile foreign currency movements. He told Parliament, that the present environment is not conducive to stimulate interest amongst investors for strategic disinvestment of Air India. India's aviation sector is at its lowest, with one of its biggest private airlines, Jet Airways, facing bankruptcy. Air India is expected to report a net loss of ₹7,635 crore during 2018-19, according to provisional figures released by the government.

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