June 20, 2018 / 9:23 AM / 10 months ago

Aviation minister says to review Air India stake sale plan soon

NEW DELHI (Reuters) - India will soon review a plan to sell a stake in Air India, Civil Aviation Minister Suresh Prabhu said, weeks after the government found no takers for the beleaguered flag carrier.

The government is committed that Air India remains an independent, globally-competitive and a highly-successful airline, junior civil aviation minister Jayant Sinha told a news conference on Wednesday.

The government announced a plan in March to divest a 76-percent stake in Air India and offload about $5.1 billion of its debt, but prospective buyers stayed away, with some citing onerous terms as a reason for their lack of interest.

Reporting by Aditi Shah; Writing by Devidutta Tripathy

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