India said to consider selling 51% in Air India to investor
India is considering selling a majority stake in Air India to a strategic partner after a US$3.6b bailout failed to turn around the loss making national carrier. The proposal includes reviving Air India within five years of selling a 51% stake, sources said. Talks are at an initial stage and presentations have been made to the finance ministry and the prime ministerÕs office. Prime minister Narendra ModiÕs administration will have to tackle the airlineÕs $7b of debt to make Air India attractive to investors, a consultant said. In comparison, Lufthansa has less debt while its revenue is about 11 times that of the Indian carrier. Air India has been unprofitable for a decade with taxpayers bailing it out in the past six years.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-03-01/star/india-said-to-consider-selling-51-in-air-india-to-investor
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India said to consider selling 51% in Air India to investor
India is considering selling a majority stake in Air India to a strategic partner after a US$3.6b bailout failed to turn around the loss making national carrier. The proposal includes reviving Air India within five years of selling a 51% stake, sources said. Talks are at an initial stage and presentations have been made to the finance ministry and the prime ministerÕs office. Prime minister Narendra ModiÕs administration will have to tackle the airlineÕs $7b of debt to make Air India attractive to investors, a consultant said. In comparison, Lufthansa has less debt while its revenue is about 11 times that of the Indian carrier. Air India has been unprofitable for a decade with taxpayers bailing it out in the past six years.<br/>
