more-inAir India carries a sentimental value for the country, Union Minister Nitin Gadkari said on Wednesday on why the government intends to retain 24% stake after the privatisation of the national carrier instead of making a complete exit. “Air India has a sentimental value for the country (Air India ke saath desh ki ek bhavna judi hui hai). Apart from that, we will keep 24% stake and a foreign player can buy the remaining share,” Nitin Gadkari told The Hindu. In March, the government made public the broad contours of Air India’s stake sale and invited bids. It proposed to sell 76% of Air India along with low-cost subsidiary Air India Express and a 50% stake in AISATS, a ground-handling joint venture with Singapore Airport Terminal Services, as a single entity.

Source: The Hindu May 31, 2018 06:19 UTC