GoI, unwanted corporate partner

Air India is a model of such government-induced mismanagement, as any prospective buyer would know

In most countries, joint corporate ownership with the sovereign power would be considered a rock-solid guarantee of stability for the company. In India, government participation is seen as a deal breaker. To put it another way, the Government of India (GoI) is considered an unreliable, even maverick, corporate partner. That’s the core message from the zero interest in Air India’s stake sale last week, as transaction advisor EY has bluntly advised the government.

Why would prospective buyers recoil from the GoI continuing to hold a 24 per cent stake in Air India? No doubt, the government’s record as a shareholder