Air India privatisation: IndiGo wants to buy stake in debt-laden carrier
Air India, laden by debt, is up for sale. Representative image
IndiGo airlines, owned by InterGlobe Aviation
The Cabinet on Wednesday gave approval to privatise debt-laden Air India, the first step of a process that could see the government offload an airline struggling to turn a profit in the face of growing competition from low-cost rivals.
Shares in InterGlobe Aviation were trading lower by 3.3 per cent at 0841 GMT in a strong Mumbai market.
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