Why has the number of bidders for both Air-India and Indian Airlines dropped?
After they looked at the condition of Air-India, their interest waned. In one case, a very prominent person in aviation — who was a big bidder — told me that as he had got to know the airline better, he did not understand why he should pay us for our headaches. Swissair was one of the bidders. At that time, its CEO felt that one of the ways to expand was to buy a bankrupt or near-bankrupt airline. But in the last financial year, Swissair lost $1.8 billion. That CEO was removed. The new CEO does not believe that is the way to go. He is now trying to stop the hemorrhaging of Swissair. That is what happens when you keep waiting. One of the papers today said that you presented a 57-page note to the Cabinet Committee on Security on why the Hindujas should be considered for handing over of Air-India. Can such things be always done before divesting? Firstly there is no 57-page note. It is all bunk. All names of the seven bidders were sent to the Cabinet Committee on Security. Rightly or wro
