November 16, 2012 / 7:42 AM / 5 years ago

Air India scraps plans to sell some Boeing 777 planes - source

Customers stand at an Air India reservation office at the domestic airport in Mumbai May 8, 2012.Vivek Prakash/Files

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

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