Until the end, the government of Narendra Modi has pretended to believe it. The officials of civil aviation had earlier this week that the nomination would necessarily be ” at the last minute “. Finally, the miracle has not occurred.
Thursday, may 31, when has sounded the end of the call for expression of interest regarding the privatisation of Air India, it has been found that the procedure was a failure. “As we informed our board [Ernst & Young], no case has been filed “, had announced soberly in the ministry of civil aviation on Twitter, explaining that” a new plan of action [would] now be stopped in the appropriate way “.
“It is a setback to Modi “, was immediately titrated the daily newspaper Business Standard on its website. Decided a year ago by the prime minister hindu nationalist, the putting on sale of Air India was likely to fetch at least 300 to 400 billion rupees (3.8 to 5.1 billion euros) to the State, according to the consultant, Mark Martin, a specialist in the aviation sector.
It should especially allow Delhi to finish with the plans of using repetitive – 422 billion rupees (5,35 billion euros) for 2012 – which will have been the sole result, in recent years, see the national company, founded in 1932, to accumulate the counter-performance.
Loss alarming market share
For the fiscal year ended in march 2017, it has posted 57.6 billion rupees (€730 million) of losses, and its debt has reached the equivalent of 6.84 billion euros. At the same time, the ” Maharaja “, as we nicknamed the group in India, in reference to the prince hindu who serves as its mascot, has not been able to halt the loss of dizzying in its market share.
It weighs more today than 12.7% of the national market of the sub-continent. It is done carving…