Wednesday, 30 May 2018

No bids for Air India......yet!

The Indian government says it has not yet has not received any bids so far for its stake in the state-run carrier Air India.

Speaking to local media the Indian Civil Aviation Secretary R.N. Choubey confirmed that no bids had yet been received for the 76% stake the government has in the finically troubled national airline.  Additionally, the government has also said that the deadline, which had already been extended from 14th May to 31st May would not be extended any further. 

"Air India is riddled with debt, it has been mismanaged for a number of years and despite having an impressive network and reasonably good onboard service, at least on its international flights, it isn't an attractive proposition for outside investment and anyone thinking about putting money into the ailing airline should know there is no quick fix and would have to be in it for a long time." Our chief aviation correspondent, Jason Shaw, said on Wednesday.