Govt to completely exit from Air India; panel gives clearance for 95% stake sale: Report

The Narendra Modi-led govt’s plan to sell debt-laden Air India is still on track as it has reportedly decided to completely exit the carrier. The committee of secretaries (CoS) headed by cabinet secretary PK Sinha has given the green signal to offload 95% stake in the carrier. The divestment proposal will be placed before a ministerial body, headed by Union Home minister Amit Shah in the next 15 days, where a final call will be taken on the timing, price and amount of shares of Air India to be sold. It further mentioned that the Centre will retain a 5% stake in the debt-laden carrier for ESOP of permanent employees, and the EoI will be out by the first week of October. <br/>