Air India bond sale bid deadline off

Singapore: Troubled national carrier Air India (AI) headed by Civil Aviation Minister Ajit Singh has postponed for the third time the deadline for submission of bids for its jumbo Rs 74 bn ($1.3 bn) 19-year bond sale.
Originally, bids were to be submitted by August 6 but this was pushed back to August 31. The company will now set a new deadline on September 20.
The delays may mean that the carrier will miss a September 30 deadline set under the its financial restructuring plan to complete the bond sale. The restructuring plan was approved by the government earlier this year to revive the sagging airline which has not posted a net profit for the last five years.
13/09/12 Financial Express

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Categories: Air India Sep 2012