New Delhi: Recently, when exploring the internet on a lazy afternoon, a story appeared that immediately caught my attention.
“Singapore Airlines withdrew from Indian water offers,” shouting the main news of the story written 20 years ago.
It’s Saturday.
The previous day, other bidders – Billionaire Hinduja Brothers – must be interesting after the Ministry of Red Law was marked by their offer, saying they did not meet the strict guidelines set by the government to take part in the privatization process.
In vain pulled out, only Tatas left in the commotion and the determined effort was installed by the Minister of Disinvestment who then Arun Shourie came crashing.
Year rolled by.
Political opposition, personal interests, and lethargy bureaucracy prevents all efforts to sell giants that make losses.
The airline continues to accumulate debts and services that are dived.
In 2017, Niti Aayog was asked to prepare a list of privatization of the company managed by the state.
A senior official of the Government Policy Think Tank spoke to Ti.
Several times during interaction, the official said why Air India must be sold.
But he was never mentioned categorically that every recommendation was made.
After arguing for a long time.
We decided to continue the story.
A few months later on May 20, Finance Minister Arun Jaitley, while participating in the Doordarshan show entitled ‘Teenagers Saal Modi Sarkar’, revealed the government planned to privatize Air India.
Jaitley said that in 1999-2000, during his short assignment as Minister of Worship, he had said, “Please release Indian air, if not, there will be no one left to be resisted.” Jaitley then said that the government opened the idea of ​​inaugurating strategic partners for Air India and that the Civil Aviation Ministry was exploring all possibilities.
It’s ‘Breaking News’, as they say.
Immediately, the process began selling 76% in Air India, Air India Express & Aisats.
But finally there was no bidder that arises because investors do not have taste for airlines where the government still has several left shares.
Finally, the third attempt to sell airlines was launched in 2019.
The government explained that he wanted to get out of the airline 100% and also sweetened the agreement to make it attractive to investors.
It summarizes more than two decades of bends and changed on the journey of Maharaja to escape from closure.
But it piled up mountain debt.
Now, the government has finally been able to sell airlines.
Congratulations Flights with your new owners and your old friends, Air India