The Ministry of Civil Aviation on Thursday announced the Centre will go ahead with disinvestment in national carrier Air India.
The Air India Specific Alternative Mechanism (AISAM) has given the Central government a green light for the disinvestment process, news agency ANI reported
The AISAM was constituted in 2017 to further look into the Cabinet Committee of Economic Affairs' decision of disinvestment in the national carrier.
Air India has a total debt of Rs 58,351 crore as on March 31, 2019, Civil Aviation Minister Hardeep Singh Puri told the Rajya Sabha on Wednesday.
Last year, the Centre had invited Expression of Interest for strategic disinvestment of Air India, including its shareholding in Air India Express and Air India Air Transport Services Limited. However, it did not receive any bid till the last date on May 31, 2018.
The Centre is once again preparing to invite bids.
In a written reply to a question in the Rajya Sabha, Puri said, "As per the provisional figures of FY 2018-19, the total debt of Air India Ltd as on March 31, 2019, is Rs 58,351.93 crore."
(With inputs from PTI)