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Govt extends deadline to bid for Air India by two months till 30 June

The aviation sector has been hit hard by Covid-19 with airlines cancelling international flights and announcing pay cuts for employees.

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The extension of Air India bid deadline followed the government’s move last month to extend the time given to investors to bid for its entire 52.98 per cent stake in Bharat Petroleum Corp (BPCL) to June 13. The earlier deadline was May 2.

The government has extended the deadline to bid for Air India by two months till June 30, as the Covid-19 fallout has disrupted economic activity globally. This is the second extension in the deadline to submit bids by investors for Air India since it initiated the process of stake sale in the debt-ridden national carrier on January 27.   Issuing a corrigendum to the Expression of Interest for sale of Air India, the Department of Investment and Public Asset Management said the deadline has been extended in view of the “request received from the IBs (interested bidders) in ...