"No bids for Air India, victory for joint forum in our endeavour to save the airline," a joint forum of various Air India unions said in a statement as the last date for submission of bids ended this evening.
The joint forum, which is a platform of various Air India unions, associations and guilds, has been opposing the move to privatise the national carrier on the grounds of massive 'job losses'.
In a major setback to the Air India disinvestment process, the government said no initial bids were received for the proposed strategic stake sale of the airline by the end of the deadline on May 31, and that "further course of action will be decided appropriately".
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