The Indian government said it did not receive any expressions of interest in its planned Air India stake sale. The deadline for submission of expression of interest ended today.

"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 Civil Aviation Ministry said in a tweet.

"Further course of action will be decided appropriately," it added.

Ernst & Young is the transaction advisor for the process.

Prime Minister Narendra Modi's government, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76 per cent stake and offload about $5.1 billion (3.8 billion pounds) of its debt.

Air India, known for its Maharaja mascot, has some of India's most lucrative international and domestic landing and parking slots that are key for airlines.

While a buyer would have got management control and gained access to more than 2,500 international slots and over 3,700 domestic slots, it would also have been required to take on Air India's 27,000 employees, 40 per cent of whom are permanent staff.

The terms had also stipulated that the government would have continued to hold a 24 per cent stake, with the need for the bidder to abide by conditions, not yet detailed, designed to safeguard employee interests.

The government had also restricted merging the airline with the buyer's existing businesses, but later relaxed the rule to allow some integration for business efficiency.

Jet Airways and rival IndiGo, owned by InterGlobe Aviation, have already opted out of the race.

(With inputs from agencies)

The government is planning to divest a 76 per cent stake in the loss-making state-owned carrier.

The Indian government said it did not receive any expressions of interest in its planned Air India stake sale. The deadline for submission of expression of interest ended today. "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 Civil Aviation Ministry said in a tweet. "Further course of action will be decided appropriately," it added. Ernst & Young is the transaction advisor for the process. Prime Minister Narendra Modi's government, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76 per cent stake and offload about $5.1 billion (3.8 billion pounds) of its debt. Air India, known for its Maharaja mascot, has some of India's most lucrative international and domestic landing and parking slots that are key for airlines. While a buyer would have got management control and gained access to more than 2,500 international slots and over 3,700 domestic slots, it would also have been required to take on Air India's 27,000 employees, 40 per cent of whom are permanent staff. The terms had also stipulated that the government would have continued to hold a 24 per cent stake, with the need for the bidder to abide by conditions, not yet detailed, designed to safeguard employee interests. The government had also restricted merging the airline with the buyer's existing businesses, but later relaxed the rule to allow some integration for business efficiency. Jet Airways and rival IndiGo, owned by InterGlobe Aviation, have already opted out of the race. (With inputs from agencies)

No bids received for Air India stake sale, says government

The government may go with the option of offloading&nbsp;its stake in the national carrier Air India in parts, according to a report in Reuters.

The idea behind selling stake in parts is to attract buyers. The government had approved the stake sale in the flagship carrier last month.&nbsp;

Successive governments have pumped billions of dollars into the fledgling airline which has a massive debt burden of $8.5 billion on its books.

Over the years, Air India has lost ground to&nbsp;private carriers like Indigo and Jet and its market share has shrunk to 13 per cent, the report said.&nbsp;

The PMO has set early next year as the deadline to get the process underway.

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The flagship carrier has lost considerable ground to private carriers like Indigo and its market share has shrunk to 13%

The government may go with the option of offloading its stake in the national carrier Air India in parts, according to a report in Reuters. The idea behind selling stake in parts is to attract buyers. The government had approved the stake sale in the flagship carrier last month. Successive governments have pumped billions of dollars into the fledgling airline which has a massive debt burden of $8.5 billion on its books. Over the years, Air India has lost ground to private carriers like Indigo and Jet and its market share has shrunk to 13 per cent, the report said. The PMO has set early next year as the deadline to get the process underway.

Government may opt for stake sale in Air India in parts

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No bids received for Air India stake sale, says government

Government may opt for stake sale in Air India in parts