New Delhi: As the novel coronavirus continues to spread, the government has decided to extend the date for completion of Air India sale by April 30, 2020. The earlier deadline to submit expressions of interest for the debt-ridden nation carrier was March 17.
The government had allowed access to the "virtual data room" of Air India to interested bidders late in February and allowed them further time till March 6 to pose queries. Now, the final dates for announcement of bidders would now happen on May 14, 2020. While extending the deadline, the Department of Investment and Public Asset Management (DIPAM), which is seeing the strategic sale of Air India in a notification said, "The changes are in view of the requests received from the IBs (interested bidders) and the prevailing situation arising out of COVID-19."
The ministerial panel- Air India Specific Alternative Mechanism (AISAM) is headed by Union Home Minister Amit Shah and comprises Finance Minister Nirmala Sitharaman, Commerce and Railway Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.
Read: 'Kids, Vaayu & Corona': A comic to educate kids about Covid-19
This is government's second attempt to sell Air India. In January this year the government restarted the divestment process of Air India and invited bid for selling hundred percent of its equity in the state-owned airline, including Air India's hundred per cent shareholding in AI Express Ltd and 50 per in Air India SATS Airport Services Private Ltd.
