New Delhi: The government remains committed to privatising debt-ridden carrier Air India soon, Union minister of civil aviation Hardeep Singh Puri said in the Rajya Sabha on Wednesday. While the government hoped to make the airline’s operations profitable in the current financial year, Air India already has a debt of ₹59,000 crore, out of which the Centre had proposed to retire ₹29,000 crore to special purpose vehicles. The government last week clarified that plans to privatise Air India were on track, but plans had been put on hold due to volatile oil prices and exchange rates. India last year failed in its attempt to sell 76% stake in Air India due to lack of interest from bidders, but said it would return with an alternative proposal soon. Also read: Opinion | Reset Air India for take-off

Source: Mint July 03, 2019 08:15 UTC