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Business deals

Air India sale still stuck on the runway

Debt load and service woes send expected bidders scrambling for the exits

IndiGo and Jet Airways have gotten cold feet over bidding on Air India. (Photo by Takaki Kashiwabara)

MUMBAI -- Uncertainty hangs over the Indian government's plans to sell Air India as onetime prospective buyers shun the troubled carrier.

Asked Friday whether Singapore Airlines was still interested in bidding, CEO Goh Choon Phong replied that he had said no such thing and that any developments on this front would be announced. The executive remarked that Singapore Air looks to focus Indian operations on Vistara, a joint venture with the Tata group conglomerate that plans to begin international service in the latter half of the year. Vistara is seen as "the undisputed leader in terms of product quality and services" in India, Goh said.

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