Government extends deadline for Air India sale bid to 30th June

The government has extended the deadline to submit the bid documents for Air India by two months to 30th June looking at the ongoing nationwide lockdown. This is the second time the government extended the deadline to submit bids for Air India. It had earlier extended the deadline to 30 April from 17 March. The government in January invited preliminary bids to divest its entire stake in Air India, and the airline’s subsidiary Air India Express along with its joint venture Air India SATS Airport Services Private Limited.

The successful bidder for Air India will be required to absorb ₹23,286.5 crores of debt after the government transfers Rs63,113 crore of debt from Air India and subsidiary Air India Express ahead of the national carrier’s proposed divestment.