India / Govt extends deadline for submitting bids for Air India to Aug 31

New Delhi: The government on Saturday extended the deadline to submit bids for Air India to August 31 as the Covid-19 outbreak disrupted economies across the world.

This is the third extension of the deadline to submit an expression of interest documents for Air India, which was put on the block by the government on January 27.

“The last date for submission of EOI is August 31, 2020, 5:00 p.m.,” a statement by the Department of Investment and Public Asset Management (DIPAM) said adding that interested bidders had requested for the extension.

The government said the qualified interested bidders would be intimated on September 14.

Civil Aviation Minister Hardeep Singh Puri had described Air India as a “first-class asset.

“I have never been as hopeful and confident on Air India disinvestment as I am now,” the minister had said at a media interaction recently.

The government had tried to sell a 76% stake in Air India in 2018, but could not attract any investors.

This year, the government has sweetened the deal by offering a 100% stake in the airline, including Air India’s 100% shareholding in Air India Express and 50% stake in AISATS Airport Services.

While issuing the Preliminary Information Memorandum in January, the Centre had fixed March 17 as the last date for submitting EOI documents from interested bidders. The last date was first extended to April 30 and later to June 30 due to the Covid-19 outbreak.