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Chambers welcome AI divestment

Our Bureau

NEW DELHI, May 28

THE apex chambers of commerce and industry have welcomed the Government's decision to divest up to 60 per cent of its stake in Air India.

In a statement, the President of the Associated Chambers of Commerce and Industry (Assocham), Mr. Shekhar Bajaj, said the move will ``definitely impart a competitive impulse to the national carrier and bring about efficiency in operations, which will ult imately benefit the traveller''.

Mr. Bajaj appealed to those opposed to disinvestment in AI to understand the ``compulsions of rejuvenating the company and restoring the Maharaja to its pristine glory''.

Welcoming the decision, the President of the Confederation of Indian Industry, Mr. Arun Bharat Ram, said the decision will provide operational autonomy to the airline as it will no longer be considered as a public sector unit.

However, he said that it remains to be seen whether the revised equity structure will be attractive enough for a strategic investor to consider investing in the airline.