The government has extended the deadline to receive initial bids for its stake in state-run carrier Air India to May 31 from May 14 earlier, according to a notification issued by the Ministry of Civil Aviation on Tuesday.
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The government will announce the qualified bidders for the beleaguered airline on June 15, according to the statement.
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Prime Minister Narendra Modi’s government, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76% stake and offload about $5.1 billion of its debt.
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Get instant updates on daily movements in Gold Price and Silver Rates, Petrol Price, and Diesel Rates and essential financial indicators. Explore in-depth Business News and analysis on policy changes, income tax rules, and key economic developments across India and worldwide.
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