Another go after flop show: Govt now mulls selling 100% stake in Air India

Modi's most high-profile privatization plan ended in a whimper on May 31 as a deadline for prospective suitors passed by with none showing interest in the airline mired in almost $8 billion of debt

India will soon revive the sale of its money-losing flag carrier with new guidelines after a recent attempt ended in a debacle last month, as the proposed terms deterred potential investors.

Prime Minister Narendra Modi’s administration is ready to “re-examine” its privatization process, including a clause requiring a minority state stake in Air India Ltd., said Subhash Chandra Garg, a senior official in the Ministry of Finance. The government is considering various options and doesn’t intend to insist on keeping 24 per cent of the company, he said.

“A certain kind of strategy was offered that didn’t find many takers