The process of selling Air India began, the Union Cabinet approved the proposal

New delhi date. Wednesday 8 January 2020

Pre-sale preparations for the sale of state-owned airline Air India had finally begun. Union Cabinet on Tuesday approved the proposal to sell Air India.

A committee of ministers led by Home Minister Amit Shah showed a green flag to Air India's Share Purchase Agreement. According to information provided by an Air India official without disclosing his identity, the central government approved the proposal to sell 100 percent of the shares of Air India. The necessary procedures for fulfilling all the formalities required for this were initiated.

Once this is done, all the world airline will be offered to buy Air India.

Earlier, only 76 per cent of the shares were thought to be sold, but with no offers, it was decided to sell 100 per cent of the shares.

Air India has a debt of Rs 60,000 crore. Air India's fuel, other technical costs, airport fare, maintenance costs and staff salaries - all of which made Air India indebted.

For the last ten years, the central government was providing financial support to the government. But now the decision had to be made to sell such a company like Dhola Elephant.