Government Extends Deadline To Submit Bids For Air India By Two Months
The government has extended by two months the deadline for placing bids for Air India till Oct. 30 as the Covid-19 fallout has disrupted economic activity globally.
The process of stake sale in the national carrier was initiated on Jan. 27. This is the fourth extension given by the government for putting in bids.
Issuing a corrigendum to the Expression of Interest for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the "request received from the interested bidders in view of the prevailing situation arising out of Covid-19".
While issuing the EoI in January, the last date for bids was kept at March 17, which was later extended to April 30. This was further extended till June 30, and again till Aug. 31.
Also the date for intimation to qualified interested bidders has been extended by over two months till Nov. 20, the DIPAM said in the corrigendum posted on its website.