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Air India's bailout plan not an alternative to divestment: CMD

The government's proposed move to pare INR 29,000 crore of Air India's debt is a short─term measure and not an alternative to divestment plans, the national carrier's Chairman and Managing Director Pradeep Singh Kharola said on Wednesday, reports PTI.<br><br>He said discussions are in advanced stage for transferring INR 29,000 crore out of Air India's near INR 55,000 crore total debt to a special purpose vehicle (SPV). "Temporarily, the divestment is kept on hold. As the scenario improves, the divestment process will restart," Kharola told PTI on the sidelines of IIM─Calcutta's 58th annual foundation day.

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