PTC Solutions Installer (PSI) fails with error message Windchill loader exited with error status = 1 in Windchill PDMLink

• While installing Windchill on Linux system, PTC Solutions Installer (PSI) fails with an error message "Windchill loader exited with error status = 1"
• PSI logs reports below error 

DEBUG  - Exception while attempting to connect (web service may simply not be running)
java.net.ConnectException: Connection refused (Connection refused)
        at java.net.PlainSocketImpl.socketConnect(Native Method) ~[?:?]
        at java.net.AbstractPlainSocketImpl.doConnect(AbstractPlainSocketImpl.java:412) ~[?:?]
        at java.net.AbstractPlainSocketImpl.connectToAddress(AbstractPlainSocketImpl.java:255) ~[?:?]
        at java.net.AbstractPlainSocketImpl.connect(AbstractPlainSocketImpl.java:237) ~[?:?]
        at java.net.Socket.connect(Socket.java:609) ~[?:?]
FATAL  - Windchill loader exited with error status = 1
DEBUG  - Installation is Aborting.  The installation cannot continue.
FATAL  - Aborting installation.
FATAL  - Installation is Aborting.  The installation cannot continue.
FATAL  - Windchill Loader failed.
FATAL  - aborting: original exit_code = 2
FATAL  - aborting: normalized exit_code = 2

• Getting below error in WIndchill Loader logs

main:Could not access HTTP invoker remote service at [http://<server>/Windchill/MethodServer]; nested exception is java.io.IOException: Did not receive successful HTTP response: status code = 503, status message = [Service Unavailable]
wt.util.WTRemoteException: Unable to ping server manager; nested exception is:
        wt.util.WTRemoteException: Unable to locate server manager; nested exception is:
        java.rmi.ConnectIOException: Exception creating connection to: <server>; nested exception is:
        wt.boot.UnsupportedHTTPTunnelingException: Either Windchill server manager not reachable or RMI over HTTP tunneling not supported with this java version.
        at java.rmi/sun.rmi.transport.tcp.TCPEndpoint.newSocket(TCPEndpoint.java:635)
Caused by: wt.boot.UnsupportedHTTPTunnelingException: Either Windchill server manager not reachable or RMI over HTTP tunneling not supported with this java version.
        at wt.boot.WTRMIMasterSocketFactory.createSocket(WTRMIMasterSocketFactory.java:236)
        at java.rmi/sun.rmi.transport.tcp.TCPEndpoint.newSocket(TCPEndpoint.java:617)

• Getting below error while starting Xterm

xterm: cannot load font "-Misc-Fixed-medium-R-*-*-13-120-75-75-C-120-ISO10646-1"
xterm: cannot load font "-misc-fixed-medium-r-semicondensed--13-120-75-75-c-60-iso10646-1"​​​​​