Win-win situation for all: Scindia on AI sale

January 28, 2022 11:59

Air India had to be sold because debt had been piling up to a point where it could no longer be sustained by the government, Civil Aviation Minister Jyotiraditya Scindia said today.

Scindia said Air India had a running loss of Rs 85,000 crore over last 14 years and was earning losses of almost Rs 20 crore a day.

"I think it is a win-win situation for all stakeholders concerned, for Govt and for Tata Group. This transaction represents a huge quantum jump in terms of capabilities in the Civil Aviation sector.

"It represents culmination of a long process that took almost 20 yrs to conclude. It also sets in perspective a 69-yr-old history which was started on wrong step by nationalisation of an airline that actually belonged to the private sector, it's going back to that sector," Scindia said.

On the Tatas, Scindia said it was a player with tremendous capabilities for international and domestic traffic -- a party that probably has a game plan and strategy to ensure best value for our customers.

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