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Eight reasons why the government cannot afford to delay Air India sale

Source : 36   On   06 Jun 2018
Home   >   All Articles  >   Eight reasons why the government cannot afford to delay Air India sale
 
 
 
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NEW DELHI: After the government failed to receive any bids for its stake in state-run carrier Air India, the sale is likely to be put off. Most prospective bidders found the terms of sale too challenging. There were several daunting conditions. The government would have retained 24 per cent stake and the winning bidder was required to stay invested in the airline for at least three years. The winning bidder could not merge the airline with existing businesses as long as the government held a stake. The buyer was required to list Air India. It had to carry the responsibility of a huge work force that comes with Air India, having little scope to prune it.