Industry executives and investment bankers said there is less chance of the process being successful in the current situation as business houses, including airlines, are looking to conserve cash
Amid continuing uncertainty over the fate of the national carrier, the official said there is also need for funds to restart operations of 12 grounded narrow-body planes
Last month, the Cabinet had approved a strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control
The finance minister stated the strategic disinvestment of the two state-run companies is critical for the government to meet its disinvestment target of Rs 1 trillion for the current fiscal year
Among the key issues holding Expression of Interest (EoI), first stage of bidding, is whether FDI norms have to be relaxed to allow foreign airlines to take full control
Modi's most high-profile privatization plan ended in a whimper on May 31 as a deadline for prospective suitors passed by with none showing interest in the airline mired in almost $8 billion of debt
As far as the employees clause goes, there is only a one-year lock-in period, post which the government has adopted the same approach as it has for every other disinvestment