MP Ponguleti raises Air India auction issue

MP Ponguleti raises Air India auction issue
Highlights

Local MP Ponguleti Srinivas Reddy on Thursday submitted a written question in the Lok Sabha seeking to know whether any private airline was showing interest in participating in the auction of Air India in view of the fastapproaching deadline

Khammam: Local MP Ponguleti Srinivas Reddy on Thursday submitted a written question in the Lok Sabha seeking to know whether any private airline was showing interest in participating in the auction of Air India in view of the fast-approaching deadline.

The MP asked whether the financial performance and working of Air India were going against the government’s interests. He wanted to know if the government was ready to withdraw investments from Air India.

According to a press release from the MP’s camp office here, Reddy, quoting figures, pointed out that AI had announced in 2012 a financial revival plan. It was paying back government loan through equity infusion and implementing financial restructure plan.

These steps, he stated, would reduce the AI’s financial burden. It had funds for operating the airline until 2020-21. Reddy maintained that so far it had spent over Rs 27,195 crore.

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