Deals
Air India's Potential Suitor Drops Out Even Before Sale Begins
- Budget carrier decision after government won’t sell piecemeal
- Prime Minister Modi is seeking to offload loss-making airline
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IndiGo, the only airline to have publicly shown interest in buying parts of Air India Ltd., said it’s no longer keen on the state asset, dealing a blow to Prime Minister Narendra Modi’s most high-profile privatization plan.
India’s biggest airline, operated by InterGlobe Aviation Ltd., said it doesn’t have the wherewithal to acquire Air India in its entirety and make it profitable. While the budget carrier had its eyes set on the international operations of Air India, the government decided against piecemeal sales to different buyers.