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Govt Planning to Sell up to 49% Stake in Air India – Air India, which last made an annual profit in 2007, has seen its market share shrink in recent years amid rising competition from private carriers.
The government is to examine the possibility of selling up to 49 per cent of loss-making national carrier Air India, news agency NewsRise Financial reported on Wednesday.
The govt plans to form a 4 – 5 member panel, to consider selling a stake in the prime airlines to meet its revenue target from state asset sales next fiscal year, according to NewsRise.
The Prime Indian Airways, which last made an annual profit in 2007, has seen its market share shrink in recent years amid rising competition from private carriers. It is now India’s third-largest airline by market share.