The Indian government's attempt to sell 76% of Air India has so far failed to drum up any interest.
It now faces a stark choice: Continue to pump in billions of dollars of taxpayer money to keep the loss-making airline flying, or allow it to be taken over entirely and possibly broken up.
"In the current framework, the airline cannot survive without government-injected funds," Vaidyanathan Krishnamurthy, a professor of finance at the Indian School of Business, told CNNMoney. "It will continue to bleed cash."
Air India is expected to lose around $2 billion over the next two years, according to the Centre for Asia Pacific Aviation (CAPA). The airline has been kept alive in recent years by a $4.5 billion government bailout in 2012.
15/06/18 CNN
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It now faces a stark choice: Continue to pump in billions of dollars of taxpayer money to keep the loss-making airline flying, or allow it to be taken over entirely and possibly broken up.
"In the current framework, the airline cannot survive without government-injected funds," Vaidyanathan Krishnamurthy, a professor of finance at the Indian School of Business, told CNNMoney. "It will continue to bleed cash."
Air India is expected to lose around $2 billion over the next two years, according to the Centre for Asia Pacific Aviation (CAPA). The airline has been kept alive in recent years by a $4.5 billion government bailout in 2012.
15/06/18 CNN
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