MUMBAI : Struggling Air India might be forced to shut down by June next year unless it finds a buyer as "piecemeal" arrangements cannot be sustained for long, according to a senior airline official. Sounding alarm bells, the official said Air India might well go Jet Airways way if a prospective buyer does not come on board by June next year. The Air India Specific Alternative Mechanism (AISAM) has approved re-initiation of process for the the government's 100 per cent stake sale in Air India along with Air India Express and the carrier's stake in joint venture AISATS. The government is likely to issue Expression of Interest (EoI) for the stake sale in the fourth quarter of the fiscal. Response to the recent road shows in Singapore and London for Air India disinvestment was reportedly "tepid".

Source: Mint December 30, 2019 13:07 UTC