New Delhi, Oct 20 (IANS): Civil Aviation Minister Vayalar Ravi Thursday said the government was not considering selling its stake in the national carrier Air India.

"There is no such plan for disinvestment or for having an IPO (initial public offering) of Air India," Vayalar Ravi told reporters on the sidelines of an industry event here.

"My first priority as a civil aviation minister is to bring Air India in no-profit, no-loss (situation)," he said.

The minister added that the group of ministers (GoM) led by Finance Minister Pranab Mukherjee, looking into the financial restructuring and turnaround plan of the airline, would meet Oct 27 to monitor the carrier's performance.

The minister added that the government was contemplating a separate agency for overseeing air traffic control (ATC) in the country.

"Government is contemplating delinking of ATC operations from airport operations," he said.

Currently, Communication Navigation and Surveillance (CNS) and ATC services come under the ambit of the Airports Authority of India (AAI).