Deals
India Said to Consider Selling 51% in Air India to Investor
- Proposal said to include turning around the airline in 5 years
- Plan discussed with finance ministry, Prime Minister’s Office
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India is considering selling a majority stake in Air India to a strategic partner after a $3.6 billion bailout failed to turn around the loss making national carrier, people with knowledge of the matter said.
The proposal includes reviving Air India within five years of selling a 51 percent stake, the people said, asking not to be identified as the information isn’t public. Talks are at an initial stage and presentations have been made to the finance ministry and the prime minister’s office, they added.