No one seems interested in buying Air India

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Both Jet Airways and Indigohave said that they won’t be submitting bids for the debt-laden national carrier.The deal comprises the purchase of a 76% stake in Air India and also includes ₹334 billion of the company’s debt.If the government doesn’t receive any bids by May 14th it will have no choice but to revise the terms of the disinvestment.
The Indian government’s plans to privatise Air India have been dealt a huge setback as both Jet Airways and Indigo have said that they will not be submitting bids for the debt-laden national carrier. It’s been close to a fortnight since the government formally kicked off the disinvestment process by inviting expressions of interest for a 76% stake in Air India, but there is still no sign of a guaranteed bid.
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Jet Airways, India’s second-largest domestic airline, was reported to be mulling a joint bid with Air-France KLM and Delta but was likely scared away by the high level of debt it would inherit from the purchase as well as additional deal terms.

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