The government had in March finalised plans to divest a 76% stake and offload about $5.1 billion of its debt. Photo: Abhijit Bhatlekar/Mint
New Delhi: The government has not received any bids so far for its stake in state-run carrier Air India Ltd, the civil aviation secretary told TV channels, a day before the formal bidding process closes.
The government will not extend the deadline for submissions of interest in Air India, R.N. Choubey said on Wednesday. The deadline for receiving bids has already been extended once to 31 May from 14 May.
Prime Minister Narendra Modi’s government, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76% stake and offload about $5.1 billion of its debt.