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India to invite bids for Air India stake in second attempt to sell state-owned carrier

Government bets improved financials of airline to woo investors this time

Air India has been incurring losses over the years, weighed by competition, surging fuel prices, and high cost of debt servicing.   © Reuters

MUMBAI (NewsRise) -- India plans to soon invite bids for the sale of state-owned carrier Air India, as the government revives privatization of the debt-ridden airline after an earlier attempt failed to evoke any interest from investors.

New Delhi plans to invite expressions of interest for the proposed sale in 10 to 15 days, a senior official at the civil aviation ministry said last week. On Friday, the government said it reviewed Air India's financial performance for the fiscal year ended in March. The financial statement of the carrier is ready and works are on for the consolidated report, the official said.

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