Deadline just a day away and still no buyer, Air India is on a wing and a prayer
The govt has not received any bids so far for its stake in Air India, the civil aviation secretary told TV channels, a day before the formal bidding process closes. The govt will not extend the deadline for submissions of interest in Air India, R.N. Choubey said Wednesday. The deadline for receiving bids has already been extended once to May 31 from May 14. Prime minister Narendra Modi's govt, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76% stake and offload about US$5.1b of its debt. May 23, Civil Aviation secretary R N Choubey had said the highest bidder for the airline would be known by August-end. But, the highest bidder might not be the successful bidder, he said, adding the govt intends to complete the disinvestment by year-end. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-31/star/deadline-just-a-day-away-and-still-no-buyer-air-india-is-on-a-wing-and-a-prayer
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Deadline just a day away and still no buyer, Air India is on a wing and a prayer
The govt has not received any bids so far for its stake in Air India, the civil aviation secretary told TV channels, a day before the formal bidding process closes. The govt will not extend the deadline for submissions of interest in Air India, R.N. Choubey said Wednesday. The deadline for receiving bids has already been extended once to May 31 from May 14. Prime minister Narendra Modi's govt, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76% stake and offload about US$5.1b of its debt. May 23, Civil Aviation secretary R N Choubey had said the highest bidder for the airline would be known by August-end. But, the highest bidder might not be the successful bidder, he said, adding the govt intends to complete the disinvestment by year-end. <br/>
