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Wednesday, 30 May 2018 - 16:37
Air India fails to attract investors
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The Indian government has not received any bids so far for its stake in the state-run carrier Air India, the civil aviation secretary said, a day before the formal bidding process closes.
 
The government will not extend the deadline for submissions of interest in Air India, R. N. Choubey said today.
 
The deadline to submit bids has already been extended once to 31st of May from 14th of May.
 
Prime Minister Narendra Modi's government, keen to sell the loss-making, debt-ridden airline, finalized plans in late March to divest a 76 percent stake and offload about $ 5.1 billion of its debt.
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