Govt extends deadline for AI bids to 30 Oct

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.