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India's ambitious privatization drive hits coronavirus roadblock

Loss-making Air India's sale hangs in balance as bid deadline extended

An Air India Boeing 777-300ER plane seen at O'Hare International Airport in Chicago. The carrier has been losing money for more than a decade due to tougher competition from low-cost carriers, a weakening rupee and high debt-servicing costs.    © Reuters

NEW DELHI -- The long-awaited sale of Air India has been put off again, with the government of Prime Minister Narendra Modi extending by another two months the deadline for submission of preliminary bids to buy a 100% stake in the loss-making national carrier.

The culprit this time: the novel coronavirus pandemic.

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