2018年CRI Debate as privatization of Air India is coming to sight

 

The privatisation of India's debt-laden airline is coming into sight, as the Indian government looks to sell off a stake in the loss-making carrier, seen as a burden to the county's finances.

Whoever buys the airline won't have an easy task on their hands - but analysts¹ are confident that a successful turnaround is possible.

Our correspondent Rebecca Bundhun reports from Mumbai.

The privatisation of Air India is fast approaching.

The Indian government plans to sell off a 76 per cent stake in the debt-laden, loss-making carrier, which is burning through taxpayers²' money. And the process for bidders³ to submit their interest closes at the end of this month.

It's seen as a bold move by the government

Jitender Bhagava, who was an executive director at Air India, believes that after privatisation the carrier could become a profitable company in the right hands.

"We all know the negatives of government ownership. Slow decision making, an unprofessional board, chairman who keeps getting changed every now and then. Unions having a major say in decision making when they shouldn't have in certain fields … If these negatives are removed after a professional management takes over, what are the kind of bonanza⁴ that the airline gets? Suddenly you'll find a dramatic improvement."

There are lot of high points to attract buyers. The airline flying to 70 locations in India and 40 international destinations, with more than 120 planes in its fleet.

And India has one of the world's fastest growing aviation markets, as more and more of the population take to the skies with domestic air traffic rising by about 18 per cent in January compared to a year earlier, according to the International Air Transport Association.

Satish Modh, who worked with Air India, including on formulating⁵ a turnaround plan for the airline, before becoming the director of the VES Institute of Management Studies and Research business school in Mumbai, is confident there will be a number of interested bidders.

"Everything is in place. There is a good network. Very good slots available across the country, across the globe. There are competent people in engineering, in all other sectors⁶."

Not everyone is happy with the prospect⁷ of privatisation, though. Unions have protested amid concerns there could be job losses under a new owner to trim costs.

There's speculation⁸ that the conglomerate⁹ Tata could be one of the interested parties in taking over Air India. This would see the airline coming full circle. Air India was set up under then chairman JRD Tata in the 1930s before it was nationalised 20 years later.

But Indian budget airline IndiGo¹⁰, which had earlier expressed interest, says it has dropped out of the race.

Former Air India executive director Jitender Bhargava remains¹¹ optimistic.

"I am very, very positive that if Air India is run professionally like it was in the 1960s and the 70s when it was a great airline. Now all those negatives are removed. The positives are ushered¹² in and you find great results coming in and Air India once again achieving the kind of glory it once commanded worldwide."

Air India could soar to new heights following privatisation.

1 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

2 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

3 bidders   

n.出价者，投标人( bidder的名词复数 )

参考例句：

• Bidders should proceed only if they intend on using a PayPal account to complete payment. Bidders的唯一形式，应继续只当他们在使用贝宝帐户，以完成付款打算。 来自互联网
• The other bidders for the contract complained that it had not been a fair contest. 其他竞标人抱怨说该合同的竞标不公平。 来自《简明英汉词典》

4 bonanza   

n.富矿带，幸运，带来好运的事

参考例句：

• Bargain hunters enjoyed a real bonanza today.到处买便宜货的人今天真是交了好运。
• What a bonanza for the winning ticket holders!对于手持胜券的人来说，这是多好的运气啊。

5 formulating   

v.构想出( formulate的现在分词 )；规划；确切地阐述；用公式表示

参考例句：

• At present, the Chinese government is formulating nationwide regulations on the control of such chemicals. 目前，中国政府正在制定全国性的易制毒化学品管理条例。 来自汉英非文学 - 白皮书
• Because of this, the U.S. has taken further steps in formulating the \"Magellan\" programme. 为此，美国又进一步制定了“麦哲伦”计划。 来自百科语句

6 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

7 prospect   

n.前景，前途；景色，视野

参考例句：

• This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
• The prospect became more evident.前景变得更加明朗了。

8 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

9 conglomerate   

n.综合商社，多元化集团公司

参考例句：

• The firm has been taken over by an American conglomerate.该公司已被美国一企业集团接管。
• An American conglomerate holds a major share in the company.一家美国的大联合企业持有该公司的大部分股份。

10 indigo   

n.靛青，靛蓝

参考例句：

• The sky was indigo blue,and a great many stars were shining.天空一片深蓝，闪烁着点点繁星。
• He slipped into an indigo tank.他滑落到蓝靛桶中。

11 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

12 ushered   

v.引，领，陪同( usher的过去式和过去分词 )

参考例句：

• The secretary ushered me into his office. 秘书把我领进他的办公室。
• A round of parties ushered in the New Year. 一系列的晚会迎来了新年。 来自《简明英汉词典》