Modi completed the process of privatization of AI started by Bajpayee

New delhi date. 3

After more than two decades and three attempts, the government has finally succeeded in selling its flagship national carrier Air India and coincidentally Air India is back in its founder Tata Group in 3 years. In the NDA government, the then Prime Minister Atal Bihari Vajpayee started the process of privatization of Air India, which was completed by PM Modi.

• 200-01: As part of privatization and disinvestment of state-owned companies, the NDA government tried to sell a 50 per cent or minority stake in Air India to the Atal Bihari Vajpayee government. The Tata Group and Singapore Airlines showed interest, but Singapore Airlines withdrew following the opposition of trade unions and the disinvestment process collapsed.
• 2008-19: UPA government shows no interest in privatization of Air India.
• 2007-08: Every year since Air India merged with Indian Airlines, the company has been running at a loss.
• June 2018: Modi government emphasizes on privatization of CPSE. The Cabinet Committee on Economic Affairs gave in-principle approval to the disinvestment of Air India.
• March 2017: Government invites bids to sell 5% stake in Air India. But no one showed interest.
• January 2020: Modi government sells 100 per cent stake in Air India and extends bid deadline five times till December 15, but to no avail.
• April 2021: Government invites financial bids for Air India. The deadline was set for September 15.
• September 2021: Ajay Singh, promoter of Tata Group, Spice Jet, bids.
• October 2021: Tata Group pays Rs. Announced winning the bid for Rs 15,000 crore.