Government extends deadline for Air India bid by 2 months

New Delhi, Aug 25 (PTI) The authorities has prolonged by two months the deadline for putting bids for Air India until October 30 because the COVID-19 fallout has disrupted financial exercise globally.

The means of stake sale within the nationwide service was initiated on January 27. This is the fourth extension given by the federal government for placing in bids.

Issuing a corrigendum to the Expression of Interest (EoI) on the market of Air India, the Department of Investment and Public Asset Management mentioned the deadline has been prolonged in view of the “request received from the IBs (interested bidders) in view of the prevailing situation arising out of COVID-19”.

While issuing the EoI in January, the final date for bids was saved at March 17, which was later prolonged to April 30. This was additional prolonged until June 30, and once more until August 31.

Also the date for intimation to certified bidders (QIB) has been prolonged by over two months until November 20, the DIPAM mentioned within the corrigendum posted on its web site. PTI

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