Speculation is mounting that Air India is facing turmoil with reports stating that the carrier is about to default on just over $1 billion in loans, used for the purchase of aircraft. The airline’s total debt amounts to $8 billion. The Indian government had attempted to sell the airline last year but bidding closed with no bidders. In a statement, issued on its official Twitter, the Indian Ministry of Civil Aviation said: “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 news comes in
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