Zero interest in Air India disinvestment

Future tense: Successful bidder would have to take on a debt of ₹33,392 crore.

Future tense: Successful bidder would have to take on a debt of ₹33,392 crore.   | Photo Credit: Regis Duvignau

The deadline for submitting expression of interest for Air India's stake sale ended on Thursday at 5 p.m.

The government has received no bids for disinvestment of national carrier Air India, according to the Ministry of Civil Aviation.

The deadline for submitting expression of interest for Air India's stake sale ended on Thursday at 5 p.m.

"As informed by the Transaction Adviser, no response has been received for the Expression of Interest floated for the strategic disinvestment of Air India. Further course of action will be decided appropriately," the Ministry of Civil Aviation said on Twitter.

In March, the government made public the broad contours of Air India’s stake sale and invited bids. It proposed to sell 76% of Air India along with low-cost subsidiary Air India Express and a 50% stake in AISATS, a ground-handling joint venture with Singapore Airport Terminal Services, as a single entity.