Saturday, June 27, 2020

Govt extends deadline for bids for Air India divestment once again

The government has once again extended the deadline for inviting bids for selling its stake in Air India, this time to August 31 from June 30 earlier.

This is the third time this year that the deadline has been extended. Sources said the extension was done following requests from the bidders.

Also, the deadline for the government to get back to bidders on their bids has been extended to September 14 from July 14.

In 2018, the government had offered to sell its 76 percent stake in the airline, but could not find a buyer.

The government then restarted the process in January 2020 and invited bids for selling 100 percent of its equity in the airline, including Air India's 100 percent shareholding in AI Express Ltd and 50 percent in Air India SATS Airport Services Private Ltd.

While issuing the Expression of Interest in January, the last date for bids was kept for March 17, which was later extended to April 30. This was then extended till June 30,  because of the COVID-19 fallout disrupting economic activity globally.
27/06/20 Sapna Das/CNBC TV18
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