NEW DELHI—Indian Prime Minister Narendra Modi’s plan to privatize national carrier Air India seems to be floundering with some of the country’s biggest carriers opting out of the sale, putting at risk possibly his last bold economic move ahead of national elections next year.
India’s largest airline, IndiGo, and competitors Jet Airways and SpiceJet have said they won’t bid for the company because of the difficult terms the government is requiring as part of its plan to sell a 76% stake in the loss-making airline.
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