Bidding for Air India closed yesterday (May 31) without a single prospective buyer, the Indian Ministry of Civil Aviation confirmed on its official Twitter account: "As informed by the transaction adviser, no response has been received for the expression of interest floated for the strategic disinvestment of Air India.”
The ministry added that it is now considering further action. Air India hasn’t commented on the news.
The fact that the ministry wanted any buyer to take over $5bn of Air India’s $7bn debts deterred many prospective bidders.