Air India has scrapped plans to sell some of its Boeing planes after the national carrier failed to find a buyer, a senior government source said.
Air India will now reconfigure some 777 planes to all-economy class and fly them to the Gulf region, which is expected to cut losses for the carrier, the source with direct knowledge of the matter, told reporters.
The debt-crippled carrier, which has been under pressure to trim costs and is alive today thanks to the $5.8 billion taxpayers' bailout, had offered to sale five 777 planes last month.