Air India stake sale put on back-burner

Cost-cutting measures will be embraced and endeavors will be made to monetise advantages for run the carrier, says source.

Air India's privatization has been set aside for later, as indicated by a senior government source.

"Presently isn't the ideal time to privatize the bearer. We got no offers. We will take a gander at enhancing effeciencies by bringing private individuals," the source disclosed to The Hindu.

Cost-cutting measures would be embraced and there would be endeavors made to monetise advantages for run the aircraft, the source said.

Rising fuel costs were refered to by the source as the explanation behind wrecking of the disinvestment procedure. The endeavor to privatize the national bearer could be restored at a later stage, the source included.

May 31 was the latest day for accepting offers for the disinvestment of the aircraft however no private players approached to express enthusiasm for its stake deal.