Recognised By: THE PRIME MINISTER OF AUSTRALIA & PREMIER/GOVERNER & CHIEF COMMISSIONER OF POLICE OF VICTORIA      Victoria's first Melbourne Monthly Newspaper since October 1993

Sale of Air India


NEW DELHI, 29 JUNE. The Union Cabinet has given in-principle approval for disinvestment of Air India. Finance Minister Jaitley has expressed strong views on the need to divest Air India considering that it had acquired heavy losses over a long period.

"Air India has a debt of Rs 50,000 crore. Its valuation of aircrafts will be at Rs 20,000-25,000 crore. Currently, Air India`s international network consists of 41 destinations across the US, Europe, Australia, Far East and South East Asia and the Gulf. The airline`s domestic network covers 72 destinations, including far-flung areas of the North-East, Ladakh, Andaman and Nicobar Islands.

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