No bids for Air India so far, govt will not extend May 31 deadline

May 30:The government will not extend the May 31 deadline it had set for submission of Expressions of Interest (EoIs) in Air India, Civil Aviation Secretary RN Chaubey said. No bids were received so far from any private players, he added. The deadline was earlier extended from May 14 to May 31.
The government plans to divest a 76 per cent stake in the loss-making state-owned carrier. Despite queries regarding the sale of the majority stake, there haven't been any bids so far. The state-owned airline is laden with debts running into thousands of crores. The government plans to announce the qualified bids, if they are any, on June 15.
The governments has clarified earlier that the new owner does not need to take the company public within three years of purchase. It, however, plans to remain a minority stakeholder without any special rights. Major airlines such as IndiGo, Jet Airways, Emirates and Qatar decided against entering the race. The Tata Group is also unlikely to submit a bid, according to a report.
The government has bundled the sale of 76 per cent in Air India along with 100 per cent stake in Air India Express Ltd, its low-cost international carrier, and 50 per cent in Air India SATS Airport Services Pvt Ltd. It doesn't plan on selling individual operations of airline separately. Agencies
Source: Agencies



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