Air India sale process to be completed before year-end

The govt plans to wrap up the disinvestment in Air India before end of the year and the preference is veering towards a “domestic buyer" for the debt-laden airline. The Union Cabinet gave an in-principle approval for strategic disinvestment in Air India in June and a panel of ministers headed by finance minister Arun Jaitley is now devising the strategy for executing the sale. “We will complete the process before the year-end. There is no choice but to privatise it,“ a govt source said. While no final decision has been taken, the source said the preference so far is for a “domestic buyer.“ Some foreign companies including airlines have informally expressed interest in buying Air India. Experts say it would be a difficult task to undertake a stake sale in the airline in the run up to 2019 general elections. <br/>