New Delhi — New Delhi is hoping to privatise Air India to make the ailing national carrier more competitive, but experts say debts of at least $8bn could deter buyers. India’s finance minister said on Wednesday that the government has approved a plan to sell a stake in Air India, which has long struggled to compete with privately owned rivals. India has the world’s fastest-growing passenger airline industry, expanding at an annual rate of about 20% and the sector holds vast untapped potential. But the loss-making state airline is plagued by a reputation for delays, cancellations and poor service. Efforts to privatise the airline — a huge drain on state coffers — have foundered in the past and experts said the government would have no choice but to write off the debt if it was to attract a buyer. "Who’s going to take the risk of buying a loss-making airline and with a mountain of debt?" said Dhiraj Mathur, a partner with PwC specialising in aviation. Others said the current right-win...
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