The government will sell 76% of Air India Ltd, according to a document uploaded on the civil aviation ministry’s website on Wednesday. India intends to sell the remaining stake in Air India, which may include selling shares during an initial share sale. Air India has been unprofitable since its 2007 merger with state-owned domestic operator Indian Airlines Ltd. Modi in January tweaked rules in January to include Air India which wasn’t a part of those rules until then. Air India started as Tata Airlines in 1932 and later became state-owned.

Source: Mint March 29, 2018 03:33 UTC