New Delhi The government has extended the bidding deadline for Air India by two months to June 30. This is the second extension in the deadline for Air India to bid on behalf of investors. The government started the process of selling the stake in the debt-ridden airline on 27 January.
The Department of Investment and Public Asset Management for the sale of Air India said that the deadline for bidding has been extended given the request received from IBs (interested bidders) in view of the current situation
While issuing the EOI in January, the deadline for bids was kept 17 March, which was later extended to 30 April. It has now been extended to 30 June.
DIPAM said in a Corrigendum posted on its website that the date of notifying qualified interested bidders (QIBs) has been extended by 2 months to 14 July.
It further states, ‘Interested bidders, if any, regarding important dates will be informed later.’Â Economic activity globally has been disrupted by a nationwide lockdown to prevent the COVID-19 epidemic.
COVID-19 has forced airlines to cancel international flights with domestic flights. In addition, several airlines announced cuts in staff salaries.
After its unsuccessful bid to sell Air India in 2018, the government invited bids to sell 100 per cent equity of Air India in January 2020. In 2018, the government offered to sell its 76 percent stake in the airline.
