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Bidders sought for Air India

Debt-ridden flag carrier Air India has been put up for sale by the country’s government.

The disclosure came after an initial attempt to sell a majority stake in the airline failed to draw a single bid in 2018.

A deadline or March 17 has been set for potential buyers to submit initial expressions of interest.

But any bidder faces the prospect of assuming about $3.26 billion in debt.

A successful bidder would gain control of the airline’s 4,400 domestic take off and landing and 1,800 international slots at Indian airports, as well as 900 slots at airports overseas.

But the Indian government said that as part of the sale, the control of the carrier will remain with an Indian entity, limiting the scope of any interested foreign bidders.

Air India carried 22.1 million passengers last year with a fleet of 212 aircraft serving 56 domestic and 42 international destinations.

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