Search the Internet          Tips  Sites: Finance, Investment

Government to hold off on Air-India sale

India will hold off on the sale of state-run flagship Air-India until the airline industry stabilises after the US attacks, a senior government official said on Thursday.

"We have to lie low for some time on Air-India (sale). We have to wait until the sector stabilises. The sector is in such turmoil (after the attacks)," Divestment secretary Pradip Baijal said.

"We can't even tell the Tatas to go and find a foreign airline partner," he added.

New Delhi's attempt to find a buyer for a 40 per cent stake in money-losing Air India has met with little success. India's salt-to-software Tata group is the only bidder left in the race for Air-India after Singapore Airlines walked out of the bidding consortium on September 1.

The Tatas have to find a another foreign airline partner to be eligible to bid for Air-India.

YOU MAY ALSO WANT TO READ:
No new model for Air-India selloff: Shourie
Air-India privatisation plan in disarray as SIA pulls out
SIA opts out of A-I race due to 'opposition to privatisation'

Tell us what you think of this report