Govt Extends Time For Bidders To Pose Queries On Air India Sale

The government has extended the deadline for bidders to pose additional queries regarding the sale of its 100 percent stake in Air India to 6 March.

The first set of clarification on Air India disinvestment answering queries of interested bidders on the 'confidentiality undertaking' have been listed out for the first time in the Preliminary Information Memorandum (PIM) issued on 27 January.

Previously, the last date for submission of written queries on PIM and Share Purchase Agreement was set at 11 February and the Department of Investment and Public Asset Management (DIPAM) subsequently on 21 February issued a set of 20 clarifications on the queries raised.

The additional time period for submission of written queries on PIM and SPA is till 6 March 2020, the DIPAM said.

In January, the government restarted its divestment process of Air India and invited bids for selling 100 percent of its equity in the debt-ridden state-owned airline, including Air India's 100 percent shareholding in AI Express Limited and 50 percent in Air India SATS Airport Services Private Ltd.

The last date for putting bids is 17 March and interested bidders for Air India should have a net worth of Rs 3,500 crore.