Air India’s revival plan in process of approval, says Jayant Sinha

Air India. (File Photo: IANS)

The revival plan for debt-laden national carrier Air India is going through the government’s approval process, an official said on Thursday.

Minister of State for Civil Aviation Jayant Sinha told this to reporters on the sidelines of an event here.

Earlier, the government had invited Expression of Interest (EoI) on March 28 this year for disinvestment of Air India, including the national carrier’s share-holding interest in the Air India Express Ltd and Air India SATS. But it received no response till May 31, the closing day.

Currently, the airline is in a cash-strapped stage. It has also invited bids from banks for a Rs 500-crore government guarantee-backed “short term loans (STLs)”.