Wednesday, April 01, 2020

Govt may further extend 30 April deadline to bid for Air India stake sale

New Delhi: The government is likely to extend the 30 April deadline to bid for Air India as the COVID-19 fallout has disrupted economic activities globally, an official has said.

This would be the second extension in the deadline to submit bids for Air India since the government initiated the process of stake sale in the debt-ridden national carrier on 27 January.

Initially, the bid submission deadline was 17 March, which was extended to April 30 in view of the requests from interested bidders (IBs) and situation arising out of coronavirus.
"There is a case to extend the bid submission deadline for Air India given the current global and domestic situation," the official said.
COVID-19 pandemic has disrupted economic activity globally with many countries announcing lockdown to contain the virus spread.
The aviation sector has been hit hard by COVID-19 with airlines cancelling international flights and announcing pay cuts for employees.
After an unsuccessful attempt to sell Air India in 2018, the government in January 2020 restarted the divestment process and invited bids for selling 100 percent of its equity in the state-owned airline, including Air India''s 100 percent shareholding in AI Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.
01/04/20 PTI/First Post
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