When will Air India be discontinued in 2019?
India is trying again to get rid of Air India
Air India is the national airline. But people in India are not really proud of the airline (anymore). For years she has been dragging billions in debt. Sometimes wages could not be paid and planes had to stay on the ground because Air India could no longer afford the spare parts. So it's no wonder the government wants to get rid of the airline.
Therefore it is now starting a new attempt at privatization. She wants to sell Air India entirely, as reported by Indian media. It also keeps the option open to sell part of the airline to a foreign investor, reports Livemint. According to Indian law, however, the majority must remain in Indian hands - which reduces the number of possible interested parties.
Debt greatly reduced
Just under a year ago, an attempt to privatize the Star Alliance member failed. 76 percent of Air India's shares were up for sale last fall. But nobody wanted to bid for the airline. On the one hand, probably because the state would still have been very powerful with a share of 24 percent. On the other hand, because the mountain of debt, which was the equivalent of more than seven billion euros at that time, was a deterrent to potential investors.
The government has now outsourced half of the debt to a new state-run liquidation company. According to the Businessinsider portal, a potential buyer only has to take on around 1.9 billion in debt. Business should also be better this year. Because of the bankruptcy of the private competitor Jet Airways, other Indian providers were able to increase ticket prices. Air India hopes to post a profit in 2019 for the first time in ages.
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