Govt defers EOI deadline for Air India divestment to August end

Mumbai: The government has,for the third time this year, deferred the deadline for submission of expressions of interest for Air India by two months to August 31.

Intimatation to qualified bidders will now be sent on Sept 14 instead of July 14, said a notification from the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance.

The changes are “as per the requests received from the interested bidders in view of the prevailing situation arising out of Covid19” said the notification.

The government had in 2018 tried to sell 76% stake in the airline but couldnt get bidders. This year Janurary, it announced it would sell a 100% stake in the airline and its subsidiary Air India Express and in AI Sats, its equally owned joint venture with Singaporean in-flight services company SATS. The debt to be taken over by the new investor has been reduced.

The government, in January, had fixed March 17 as the last date for interested bidders to submit EOIs. The deadline was extended to April 30 and then to June 30 before Saturday’s announced extension.

[Source – Economic Times]


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