Govt extends deadline for AI bids till Oct 30

NEW DELHI: The government has again extended the deadline to bid for Air India Ltd by two months till October 30 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 January 27. The last date of submission of bids was initially on March 17, which has since been extended to June 30, August 31, and October 30, 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 September 14 to November 20, 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.