Air India's aircraft sit idle because it can't pay for spares and repair

Air India has yet to find a suitor after the civil aviation ministry came out with the preliminary information memorandum on Air India's strategic disinvestment on March 28. Air India's mountain of debt, besides many other issues, discourages buyers. The debt stands at Rs 48,876 crore. India's national airline is also being bled by a cash deficit. The civil aviation ministry has admitted that several of its aircraft are idling because Air India is unable to purchase all the spares it needs thanks to a monthly cash deficit of Rs 200-250 crore that affects availability of funds for maintenance, according to a TOI report. The ministry has told Parliament’s Public Accounts Committee that a restricted cash flow was responsible for inoperational aircraft despite a turnaround plan being in force since 2011. The qualified bidder for Air India will be informed on May 28. A number of airlines have refused to come forward due to discouraging terms of sale. <br/>