By Amy Kluber | April 13, 2018
The Indian government has scrapped and reopened with a new information memorandum for the private sale of its 51% stake in helicopter operator Pawan Hans Ltd.
Media reports in that nation say the government had withdrawn its offer earlier this week after failing to attract any investors, who are required to have a net worth of at least some $76 million.
Meanwhile, the company announced plans to expand its fleet by leasing eight helicopters in preparation for its service participation under the proposed fare schedule, the Regional Air Connectivity Scheme, later this year.
The ministry said the schedule is “the key component of the National Civil Aviation Policy.”
According to one media outlet quoting Pawan Hans' chairman and managing director, the operator will launch services under the scheme in five Indian states by July or August.