Mumbai — India’s government announced on Thursday that its auction for a majority stake in its debt-stricken airline Air India had received no bids. The cut-off date has already been put back by three weeks because of a lack of interest from buyers for the beleaguered airline. "No response has been received for the Expression of Interest floated for the strategic disinvestment of Air India," India’s aviation ministry posted on Twitter as the deadline closed on Thursday. "Further course of action will be decided appropriately." Government officials were optimistic of a late offer but aviation analysts said there was little chance of a successful bid unless the government changed the terms of the sale. "We are hopeful the government can find a way to sell stakes in Air India and may receive multiple offers if the terms of sale are still revised," Binit Somaia, South Asia Director at the Centre for Aviation (CAPA), said. "The government can keep postponing the dates but the markets hav...
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