Air India may be listed on exchanges with banks holding strategic stake
New Delhi: The government is considering inducting banks as strategic investors in Air India, followed by a listing of the national airline, said two persons familiar with the plan.
Privatization of the airline isn’t on the cards, said the two, who requested anonymity. The plan is part of another attempt to turn around the airline.
In the first step of this plan, the government will continue efforts to recast Rs28,000 crore of working capital debt that Air India owes a consortium of 19 banks led by State Bank of India (SBI). The lenders are being asked to convert this debt into equity. MINT
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