• Monday, May 16, 2022

Business

Air India sale plan grounded

By: 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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