Air India shutdown fears grow

Struggling Air India might be forced to shut down by June next year unless it finds a buyer as “piecemeal” arrangements cannot be sustained for long, according to a senior airline official.

Amid continuing uncertainty over the fate of the national carrier, the official said there is also need for funds to restart operations of 12 grounded narrow-bodied planes.

The airline has a debt burden of around Rs 60,000 crore and the government is still working on the modalities for the divestment.

Sounding alarm bells, the official said Air India might well go the Jet Airways way if a prospective buyer does not come on board by June next year.