ALSO READForeign airlines can own 49% stake in Air India Air Asia India aims to achieve PM Modi's Act East vision Govt expects winning bidder for Air India by June-end: Sinha Foreign airlines can own up to 49% stake in Air India Regional routes power India's Civil Aviation sector (2017 in Retrospect)
(Reuters) - India will invite initial bids for a stake sale in state-run carrier Air India in the next couple of weeks, Civil Aviation Secretary Rajiv Choubey said on Thursday in a speech at an airshow in the southern Indian city of Hyderabad.
Prime Minister Narendra Modi's cabinet gave the go-ahead last year to sell Air India, after successive governments spent billions of dollars in recent years to keep it going. However, it has yet to decide on what to do with the carrier's debt burden of $8.5 billion.
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Biju Dwarakanath)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)