Subramanian Swamy ready to take Centre to court over 'anti-national' Air India divestment

Even as Centre issued a preliminary bid document for disinvestment of Air India on Monday, BJP Rajya Sabha MP Dr. Subramanian Swamy strongly opposed move. He described government-owned airline as “family silver”. Calling deal “anti-national”, Dr. Swamy warned that he would have to approach court to halt this process.  

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bid document

Anuncing sale of a 100% stake in debt-len Air India, government has set deline for submitting Expression of Interest as March 17, 2020. As a part of disinvestment, Air India would sell a 100% stake in Air India Express and 50% shareholding in AISATS, an equal joint venture between Air India and Singapore Airlines. government-owned airline’s interests in entities such as Air India Engineering Services, Air India Air Transport Services, Airline Allied Services and Hotel Corporation of India would t be a part of disinvestment transaction. As per bid document, a debt of Rs.23,286.5 crore would remain with Air India and Air India Express at time of closing of disinvestment.  

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Swamy's opposition

Incidentally, this is second occasion on which Centre has formally proposed selling a stake in Air India. In 2018, government t only sought to sell 76% equity share capital of Air India but also invited private sector to take control of manment. However, proposal failed to attract any bidders.  

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Swamy has consistently vocated against outright sale of Air India. In early 2019, he wrote to Civil Aviation Ministry asking for Jet Airways to be merged with national carrier, which he contended would help it regain its premier position. Subsequently, he proposed that government should list only 49% of Air India’s shares on stock market. 

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