This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Policy, visit this page.

India’s flag carrier Air India has been struggling financially for years, and the government decided to put it up for sale two months ago.

India’s civil aviation secretary RN Choubey told Indian TV News that the government still hasn’t received any bids for the struggling airline. To make matters worse, the formal bidding process closes Thursday.

Choubey said that the government will not extend the bidding process, which it’s already prolonged once before, extending it from May 14 to May 31. Even if the government does receive a bid by the deadline, it’s possible that it won’t sell the airline if it doesn’t receive an adequate offer.

“The government has the right to sell or not to sell Air India if the bid price is found to be inadequate,” Choubey has said according to The Economic Times. Still, Choubey has hope.

“Experience has shown that bids are received on the last day, in the last hour,” the secretary said. “This is typical bidding behavior. Why would anyone like to announce several days before that they are interested in bidding for any entity?”

Air India is a state-run airline and operates a 126-jet strong fleet of Boeing wide-bodies and single-aisle Airbus aircraft. The carrier has been operating at loss since 2007 and has roughly $7.8 billion in debt. The deal would saddle the new owner of Air India with $5.1 billion of that debt for a 76% stake in the company with the Indian government continuing to own the remaining 24%. 

No potential buyers have stepped up, and two large Indian airlines, Jet Airways and IndiGo, have specifically said they aren’t interested in the Star Alliance carrier.

When the sale was first announced many thought a conglomerate like India’s Tata Group would purchase the airline — but buyers have been scared off because the say the government’s terms are too burdensome. Specifically, the condition that the new owner is prevented from merging the airline with its own business as long as the government still holds a stake has scared off potential investors.

The Platinum Card® from American Express

The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.

Apply Now
More Things to Know
  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards points on prepaid hotels booked on
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Intro APR on Purchases
Regular APR
Annual Fee
Balance Transfer Fee
See Terms
Recommended Credit
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.