The government will continue to support Air India during the disinvestment process and honour committed financial obligations till any further direction, union minister Jayant Sinha told the Lok Sabha today. "During the disinvestment process, the government would continue to support Air India as per approved turnaround plan and would honour committed financial obligations till any further direction," Sinha said in another written reply. The minister of state for civil aviation was responding to a question on whether the disinvestment process would affect the fiscal discipline of the airline. In one of the written replies, the minister said Air India has been suffering net losses over the past many years. On whether Air India has drawn up a proposal to offer voluntary retirement scheme to around 15,000 employees before disinvestment, he replied in the negative.

Source: dna August 10, 2017 10:41 UTC