Quick News : India finally looking to privatize their Airlines
According to media reports, the government is looking to sell 10-20 per cent of its holding in national carriers Air-India and Indian Airlines in their Initial Public Offer (IPO), Civil Aviation Minister Praful Patel said Monday.
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Despite its size, Air-India has an equity base of just Rs 1,500 million (US$34.1 million), while for Indian Airlines it is Rs 1,050 million, he said.“Not only these two airlines, but all other airlines need to have healthy balance sheets before going for expansion. Therefore, we need to enhance the equity base.”
Speaking on the Indian aviation industry, he said it was still a long way from achieving maturity in terms of infrastructure, equity capital and flights.
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