No bids for Air India so far, will not extend deadline, says aviation secretary | business news | Hindustan Times
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No bids for Air India so far, will not extend deadline, says aviation secretary

The government will not extend the deadline for submissions of interest in Air India, RN Choubey said . The deadline for receiving bids has already been extended once to May 31 from May 14.

business Updated: May 30, 2018 16:18 IST
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Air India,Air India sale,Air India disinvestment
The Air India logo is seen on the facade of its office building in Mumbai.(Reuters File Photo)

The government has not received any bids so far for its stake in state-run carrier Air India, the civil aviation secretary told TV channels, a day before the formal bidding process closes.

The government will not extend the deadline for submissions of interest in Air India, RN Choubey said on Wednesday. The deadline for receiving bids has already been extended once to May 31 from May 14.

Last week, Choubey had said “l or not to sell Air India if the bid price is found to be inadequate.”

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.

- With input from PTI