Privatisation of Air India may spill into next fiscal year as the divestment process is unlikely to conclude in the remaining a little over three months of 2020-21, an official said.
Salt-to-software conglomerate Tata Group and US-based fund Interups Inc were among “multiple” entities that put in preliminary bids last week for buying loss-making carrier Air India.
A group of over 200 Air India employees also submitted an expression of interest (EoI) for the carrier in partnership with Interups at the close of the deadline on December 14.
“The Transaction Advisor will inform the qualified bidders by January 6 following which the bidders will be given access to virtual data room (VDR) of Air India,” an official said.
