Govt extends deadline for AI bids to 30 Oct
1 min read . Updated: 25 Aug 2020, 10:42 PM ISTThis is the fourth time the deadline has been extended after the divestment process for the airline was initiated on 27 January
The government has again extended the deadline to bid for Air India Ltd by two months till 30 October as the covid-19 fallout has disrupted economic activity globally.
This is the fourth time the deadline has been extended after the divestment process for the national carrier was initiated on 27 January. The last date of submission of bids was initially on 17 March, which has since been extended to 30 June, 31 August, and 30 October, respectively.
The department of investment and public asset management (DIPAM) on Tuesday issued a corrigendum to the expression of interest (EoI) for the sale of Air India and said that the deadline has been extended “as per the requests received from the IBs (investment bankers) in view of the prevailing situation arising out of covid-19." “Further changes with respect to the important dates, if any, will be communicated to the interested bidders subsequently." it added.
The date for intimation to qualified interested bidders has also been extended from 14 September to 20 November, DIPAM said in the corrigendum posted on its website.
The Tata Group is weighing plans to bid for the national carrier, according to news reports.
Among the hardest hit by covid-19 is the aviation sector, with airlines struggling from weak demand due to travel restrictions and fear among fliers of contracting infection.
Airlines in the Asia-Pacific, including those in India, will post losses of $29 billion in 2020, due to the pandemic, making it the worst region for aviation, according to aviation lobby group International Air Transport Association.
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