New Delhi: Civil Aviation Minister Shahnawaz Hussain has said he is "totally in favour" of disinvesting the Air India (AI) and the Indian Airlines (IA) but asserted there are no buyers for them in the present depressed global aviation market.

He said he has "no differences" with Disinvestment Minister Arun Shourie in this regard.

"I am not against disinvesting IA and AI. I am totally in favour of their disinvestment. I am ready to sell them but let there be a buyer. The day, Disinvestment Ministry decides it should be disinvested, then I will have no objection," Hussain said in the 'Court Martial' programme on 'SAB TV' conducted by Karan Thapar.

He said bids were earlier invited for privatising the two airlines but the Sept 11 terror attacks on the United States had severely impacted the aviation market affecting the disinvestment process.

He said the government would very soon complete the aircraft acquisition process of both the airlines in a bid to strengthen their fleet and improve their financial health.

He said the fleet expansion process of IA and AI was not implemented earlier as it was to be privatised.

Hussain said the recommendations of the IA board regarding the acquisition of 43 aircraft would be soon sent to a cabinet committee and the whole acquisition process would be held in a transparent manner.

About the disinvestment of Centaur Hotel in Mumbai, Hussain said, "I can say in the hotel we disinvested, a total transparent system was adopted. People came through bids and the hotel was sold to the highest bidder.

"Our intention is to sell those which have become white elephants for us causing losses to the government. If he (Batra Hospitality) decides to have some partner (Sahara Group) to run the hotel, it is their matter," the minister said.

Denying he was sidelined in the privatisation of Centaur Hotel, he said Shourie had consulted him before the sell-off and he had suggested that the Disinvestment Minister should himself undertake the sell-off process as "he was an expert in this system and had done many sell-offs".

Hussain said his ministry has discontinued the system of giving a free ticket for a first class ticket purchased for Air India as the flagship carrier has been witnessing increasing load factor after recently upgrading the First Class.

PTI