Air India owner mulls selling 100% shares after flop attempt

India will soon revive the sale of its money-losing flag carrier with new guidelines after a recent attempt ended in a debacle last month, as the proposed terms deterred potential investors. PM Narendra Modi’s administration is ready to “re-examine” its privatization process, including a clause requiring a minority state stake in Air India, said Subhash Chandra Garg, a senior official in the Ministry of Finance. The government is considering various options and doesn’t intend to insist on keeping 24 percent of the company, he said. “A certain kind of strategy was offered that didn’t find many takers and therefore something different will have to be done,” Economic Affairs Secretary Garg said Monday. “There’s no fixed objective that government should have 24%. It can be re-examined.” Modi’s most high-profile privatization plan ended in a whimper on May 31 as a deadline for prospective suitors passed by with none showing interest in the airline mired in almost $8b of debt. IndiGo, the nation’s biggest carrier, initially said it was keen but pulled out after the government made it clear it wasn’t selling Air India’s international operations separately.<br/>