May 31, 2018 / 12:36 PM / 3 months ago

India receives no bids for Air India stake sale

NEW DELHI (Reuters) - The Indian government said it did not receive any expressions of interest in its planned Air India stake sale by the Thursday evening deadline, underlining the challenge it faces in fixing the debt-laden state carrier.

The Air India logo is seen on the facade of its office building in Mumbai, India, July 7, 2017. Picture taken July 7, 2017. REUTERS/Danish Siddiqui

The government had announced a plan in March to divest a 76 percent stake in Air India and offload about $5.1 billion of its debt.

Reporting by Aditi Shah and Nidhi Verma; Editing by Euan Rocha

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