The spread of coronavirus and a crash in global crude price may adversely hit government’s plan of disinvesting in Air India and Bharat Petroleum Corp. Ltd.
The rapid spread of the Covi-19 virus in more than 100 countries, has badly hit the travel and hospitality industry. On the other hand, the global crude price has crashed by a huge 30%, after Saudi Arabia and Russia failed to agree to cut their production.
As a result there is a very negative sentiment in both aviation and oil sector and conditions are unfavourable for the sell-off of Air India and BPCL.
However, the government sources are optimistic that things may settle down soon and the investors will look at the opportunities in the medium term.
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