Air India no-show: Govt blames inadequate risk-taking appetite

Those spearheading the Air India stake sale have put the blame on advisors and dealmakers for failing to attract potential bidders

What went wrong? Who messed it up? The day after Air India disinvestment failed to take off, government officials across ministries and departments spent hours trying to find an answer to these questions. Many of those spearheading the sale put the blame on the dealmakers and advisors for failing to attract potential bidders, others pointed at the industry for the fiasco. 

But after long meetings, including in the Prime Minister’s Office (PMO) on Friday, the consensus by late evening was that potential bidders didn’t show any animal spirit or any spirit at all. A top government official told Business Standard