New Delhi: Civil Aviation Minister Hardeep Singh Puri on Thursday said that Air India Specific Alternative Mechanism (AISAM) has approved 100 per cent sale of government stake in Air India for the re-initiated strategic disinvestment of the national carrier."After the formation of new government, Air India Specific Alternative Mechanism (AISAM) has been reconstituted and the re-initiation of the strategic disinvestment of Air India has been approved.
AISAM has approved the 100 per cent sale of government of India stake in Air India for the re-initiated Strategic Disinvestment of Air India," Mr Puri informed Lok Sabha.Mr Puri further stated that to improve the aviation sector, the central government has taken following measures - in-principle approval for leasing of six airports of Airports Authority of India (AAI) under Public Private Partnership (PPP) accorded, out of which Letter of Award for leasing the airports of Ahmedabad, Lucknow and Mangaluru has been issued by AAI; Rationalized taxes on jet fuel by many states, exempted customs duty on tools and toolkits, reduced GST on various spare parts, accessories and consumables.He mentioned that the government has enabled the swift transition of aircraft of Jet Airways to other airlines.
Also, the contract for e-governance in DGCA (e-GCA) has been awarded and five-year restriction on new airlines for flying on international routes has been removed.Further, Ude Desh ka Aam Naagrik (UDAN) scheme has been launched to enhance regional connectivity."AAI has embarked upon a capital investment of over Rs 25,000 crore in next five years for development/ upgradation/ modernization of various airports and air navigation infrastructure," the Union Minister stated.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)