AI freezes promotions, new appointments amid stake sale preparations

NEW DELHI: Air India has stopped giving promotions for its employees and recruiting new personnel as the Government prepares for the disinvesment of the debt-laden airline, an official said on Sunday.

The Government is expected to soon start the disinvesment process for Air India, which has a debt burden of more than Rs 50,000 crore.

For the disinvesment process, the official said the airline’s books of accounts till July 15, have been closed and those financials would be used while seeking bids.

Promotions and fresh appointments have also been frozen ahead of the stake sale for Air India, the official added.

The airline has around 10,000 permanent employees. (AGENCIES)