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Government extends deadline to bid for Air India till August 31

Kolkata airport bans all flights

Kolkata airport bans all flights 

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The government has again extended the deadline to bid for Air India by two months till August 31, 2020. This is the third time the deadline has been extended.

The government has again extended the deadline to bid for Air India by two months till August 31, 2020. This is the third time the deadline has been extended.

The divestment process for the national carrier was initiated on January 27, 2020. Issuing a corrigendum to the Expression of Interest (EoI) for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the request received from the interested bidders due to the prevailing situation arising out of COVID-19.

While issuing the EoI in January, the last date for bids was kept at March 17, 2020, which was later extended till April 30, 2020, and further extended to June 30, 2020.

Besides, the date for intimation to Qualified Interested Bidders has also been extended till September 14, 2020. The government in January this year restarted the divestment process and invited bids for selling 100 per cent equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Limited and 50 per cent stake in Air India SATS Airport Services Private Limited.

In 2018, the government had offered to sell a 76 per cent stake in the airline.

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