NEW DELHI : India’s national carrier will have to shut down if a renewed attempt to sell the debt-laden airline fails to find a buyer, the country’s aviation minister said, a year and half after an attempt to sell the high-profile asset flopped.
“The airline will have to close down if it’s not privatized,” Hardeep Singh Puri told the Indian parliament on Wednesday. “Once we invite bids, then we’ll see how many bids will come in.”
A successful sale of Air India is crucial for Prime Minister Narendra Modi to help bridge a widening fiscal deficit exacerbated by dismal tax collections and a $20 billion corporate tax cut.
