India extends deadline to bid for Air India till June 30

• Pramod Thomas
• 28 April, 2020

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By: Pramod Thomas

INDIA for the second time has extended the deadline to bid for Air India by two months till June 30. The government has initiated the process of stake sale in the national carrier on January 27, 2020. 

The department of Investment and Public Asset Management said the deadline has been extended ‘in view of the prevailing situation arising out of COVID-19’.

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 has now been further extended till June 30.

Also the date for intimation to qualified interested bidders (QIB) has been extended by two months till July 14..

“Further changes with respect to the Important Dates, if any, will be communicated to the Interested Bidders subsequently,” a statement said. The aviation sector has been hit hard by COVID-19 with airlines cancelling international flights and announcing pay cuts for employees.

After its unsuccessful bid to sell Air India in 2018, India in January 2020 restarted the divestment process for 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.

In 2018, the government had offered to sell its 76 per cent stake in the airline.