NEW DELHI (Reuters) - Air India has scrapped plans to sell some of its Boeing (BA.N) 777 planes after the national carrier failed to find a buyer, a senior government source said.
Air India will now reconfigure some 777 planes to all-economy class and fly them to the Gulf region, which is expected to cut losses for the carrier, the source with direct knowledge of the matter, told reporters.
The debt-crippled carrier, which has been under pressure to trim costs and is alive today thanks to the $5.8 billion taxpayers' bailout, had offered to sell five 777 planes last month.
(Reporting by Anurag Kotoky; Editing by Gopakumar Warrier)
Trending On Reuters
Exclusive: Greece scrapes bottom of barrel in hunt for cash to stay afloat. Full Article