Transferring companies from the private to the public sector means that the government acquires an asset that generates revenues, which will pay for the borrowing.

In acquiring an asset, the government also gains ownership of its revenue streams, which will pay for the borrowing.

After splurging $20 billion in 2011 to acquire the assets, it pumped a further $20 billion developing them.

Analysts believe any possible buyer might let the company go into insolvency and then acquire the assets.

The air force and navy were even further behind and had required years to acquire the assets and the expertise needed for effective operations.