The government has again extended the deadline to bid for Air India by two months till 31st August. This is the third time the deadline has been extended.
The divestment process for the national carrier was initiated on 27th of January this year. Issuing a corrigendum to the Expression of Interest (EoI) for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the request received from the interested bidders due to the prevailing situation arising out of COVID-19.
While issuing the EoI in January, the last date for bids was kept at 17th of March which was later extended till 30th April and further extended to 30th of this month.
Besides, the date for intimation to Qualified Interested Bidders has also been extended till 14th of September, 2020. The government in January this year restarted the divestment process and invited bids for selling 100 per cent equity in the state-owned airline, including Air India’s 100 per cent shareholding in AI Express Limited and 50 per cent stake in Air India SATS Airport Services Private Limited.
In 2018, the government had offered to sell 76 per cent stake in the airline.