The Indian government again received no offers from investors for its 51% stake in Pawan Hans Helicopters (Delhi International), the International Business Times has reported.
The government has been unsuccessfully trying to divest from the helicopter operator since late 2017. The deadline for offers was repetitively prolonged but cannot be further extended due to the ongoing parliamentary elections in the country.
The helicopter specialist currently offers mostly sightseeing and charter flights, although it also operates scheduled flights between Daman and Diu in western India. It operates forty-one helicopters, including six Hindustan Aeronautics HAL Dhruvs on behalf of the Border Security Force.
The state directly owns 51% in Pawan Hans. The remaining 49% stake is held by state-owned Oil and Natural Gas Corporation (ONGC).
