the Minister of aviation of India Hardeep Singh Puri said Wednesday that the airline Air India will have to close. If you do not appear willing to buy its assets in the near future.
Air India owes creditors more than 8.6 billion USD and daily looking for ways to pay salaries and buy fuel. The press-Secretary of airline Dhananjaya Kumar said that Air India cannot pay its debts, and its prospects are "gloomy."
Founded in 1932 and formerly exclusive airline of India, this company was once called "heavenly Maharaja."
But more than ten years, it was losing money and market share giving ground to competitors on one of the fastest growing but most competitive airline markets in the world.
In August, the state oil company stopped supplying fuel to Air India due to overdue payments. The company agreed to cancel the suspension the following month after negotiations, organized by the government.
All of the government of India has provided financial support to the company, but its debts grew steadily and now have a question about bankruptcy and the sale of assets.
