The authorities has prolonged by two months the deadline for inserting bids for Air India until October 30 because the COVID-19 fallout has disrupted financial exercise globally. The means of stake sale within the nationwide provider was initiated on January 27. This is the fourth extension given by the federal government for placing in bids.
Issuing a corrigendum to the Expression of Interest (EoI) for sale of Air India, the Department of Investment and Public Asset Management stated the deadline has been prolonged in view of the “request received from the IBs (interested bidders) in view of the prevailing situation arising out of COVID-19”.
While issuing the EoI in January, the final date for bids was stored at March 17, which was later prolonged to April 30. This was additional prolonged until June 30, and once more until August 31.
Also the date for intimation to certified bidders (QIB) has been prolonged by over two months until November 20, the DIPAM stated within the corrigendum posted on its web site.