Air India sale plan grounded
Eastern Eye Staff
HARSH PURCHASE CONDITIONS ‘PUTTING OFF’ BUYERS AS DEADLINE EXTENDED THE Indian government’s attempt to sell debt-laden national carrier Air India is in danger of hitting the skids as a key deadline looms with no bidder in sight. Prime minister Narendra Modi’s administration announced in March that it would privatise the beleaguered airline. But the plan has struggled to get off the ground with several prospective buyers ruling themselves out. “Conditions put forth by the government with regards to debt and employee costs are restrictive and have put off investors,” aviation expert Amrit Pandurangi said. “The government needs to address the…
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