Friday, March 13, 2020

Coronavirus pandemic: Govt extends deadline to bid for Air India till April 30

The government on Friday extended the deadline for submitting bids to buy state-run Air India by about one-and-a-half months till April 30, citing demand from interested bidders (IBs) and situation arising out of coronavirus. The government had on January 27 issued preliminary information memorandum (PIM) inviting EoI for sale of 100 per cent stake in Air India. The deadline for submitting bids was March 17.
The Department of Investment and Public Asset Management (DIPAM) in a notice also extended the deadline for release of queries on PIM till March 20 from March 16 earlier.
Besides, qualified interested bidders will be intimated by May 14, the deadline for which was March 31 earlier.
"The above changes are in view of the requests received from the IBs and the prevailing situation arising out of COVID-19," DIPAM said.
Home Minister Amit Shah-led ministerial panel on Air India decided on extending the deadline for submission of expression of interest (EoI) by interested bidders till April 30.
In January, the government restarted the divestment process of Air India and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Ltd and 50 per cent in Air India SATS Airport Services Private Ltd.
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