Financial bids for Air India likely to be received by September 15, says VK Singh

Financial bids for Air India are likely to be received from qualified interested bidders (QIBs) by September 15 this year, Minister of State for Civil Aviation V K Singh said on Thursday. The Centre had invited Expression of Interests (EoIs) for Air India on January 27, 2020. The last date of submission — after multiple extensions due to COVID-19 pandemic — of EoIs was December 14, 2020.

“Multiple EoIs were received by Transaction Advisor. The EoIs were evaluated by the Transaction Advisor for selection of QIBs. Request for Proposal (RFP) along with draft Share Purchase Agreement (SPA) have been shared with QIBs by the Transaction Advisor on March 30, 2021, for submission of financial bids,” Singh stated.