The Indian Government is going back to the drawing board to make new plans on how it might sell Air India.
Having spent years dithering about selling it, the ‘buy it all or nothing’ approach failed to attract a single offer.
Qatar, Indigo, Singapore Airlines and industrial combine Tata Group were all originally expected bidders. Yet when the deadline closed, nobody arrived with a tender offer.
Indigo made it clear it would be interested in parts of the short haul operation, others parts of the mid and long haul.
Now the government will have to decided – a process that takes far too long as it is, what to do.
It’s desperate to remove the airline from Government books, but considers it a national asset. It may have to face the fact as Europeans have, that flag carrier’s are a thing of the past and must be left to sink or swim as any other business.