Sale of Air India attracts no buyers

Friday, 1 June 2018 16:00

Authorities in India have been left scratching their heads after an offer to buy Air India failed to attract any buyers.

The Ministry of Civil Aviation had offered a 76% stake in the national carrier. Experts say government conditions put off potential buyers, including having to take on the airline's 27,000 employees.

The airline has also not turned a profit since 2007, and any buyer would have to take on about $5bn (£3.6bn) of debt.

A ministry spokesperson said they would have to “rethink” their strategy.

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