New Delhi: Air India Ltd. is reconsidering plans to sell more of the long-range aircraft which it rarely uses as its executives are concerned they could be accused of corruption if any politician claimed that the jets were sold at the wrong price.
The money-losing, state-run national carrier sold five of its eight Boeing Co. BA -0.02% 777-200 jetliners to Abu Dhabi’s Etihad Airways last year as it had decided it needed the cash and not the jets.
It got about 4.2 billion rupees ($69 million) per aircraft. The deal at the time was criticized by India’s former federal auditor and others who said Etihad had somehow been given a sweetheart deal at below market rates.
27/11/14 Santanu Choudhury/Wall Street Journal
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The money-losing, state-run national carrier sold five of its eight Boeing Co. BA -0.02% 777-200 jetliners to Abu Dhabi’s Etihad Airways last year as it had decided it needed the cash and not the jets.
It got about 4.2 billion rupees ($69 million) per aircraft. The deal at the time was criticized by India’s former federal auditor and others who said Etihad had somehow been given a sweetheart deal at below market rates.
27/11/14 Santanu Choudhury/Wall Street Journal
