Aviation ministry has decided to end its desperate attempts to sell its shares after no one came out to buy it. The central government had decided to sell Air India's 76 percent of shares after the company posted huge loss for a long period of time.

But no one showed any interest in buying shares despite giving an extension period. Aviation ministry had initiated the process of selling of shares and permitted companies having assets of 5000 crore to attend the auction.

Air India owns hundreds of Boeing, Airbus flights and offers 2300 domestic services to 54 airports in a week.