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Govt extends deadline for Air India bids till Oct 30

Aug 26, 2020 14:04 IST

The government has extended the deadline for placing bids for Air India by two months till October 30 as the Covid-19 fallout has disrupted economic activity globally. The process of stake sale in the national carrier was initiated on January 27. This is the fourth extension given by the government for putting in bids. In 2018, the government had offered to sell its 76% stake in the airline. Of the airline's total debt of ₹60,074 crore as of March 31, 2019, the buyer would be required to absorb ₹23,286 crore.

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