Zero bidders for debt-stricken Air India as deadline closes

India's government announced Thursday that its auction for a majority stake in its debt-stricken airline Air India had received no bids. "No response has been received for the Expression of Interest floated for the strategic disinvestment of Air India," India's aviation ministry posted on Twitter as the deadline closed Thursday. "We are hopeful the government can find a way to sell stakes in Air India and may receive multiple offers if the terms of sale are still revised," Binit Somaia, South Asia Director at the Centre for Aviation (CAPA), told AFP.

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May 31, 2018 at 08:08PM