India plans sale of debt-laden national carrier Air India

India said Monday it plans to sell its entire 100% stake in the national carrier Air India to shore up falling government revenues amid an economic slowdown, after an initial attempt last year failed to attract a single bidder. Civil aviation minister Hardeep Singh Puri called Air India a “great asset” whose financial position was “fragile” due to burgeoning debts. Puri told reporters in New Delhi that Air India as a brand will continue to fly but it needs to be privatized.

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