Government Extends Air India Bids Deadline
India has delayed the closing date for bids to acquire 76 percent of state-run flag carrier Air India by just over two weeks to May 31.
The Ministry of Civil Aviation also responded to queries from potential bidders, which were largely of a procedural nature and the nature of the governments intentions with its remaining 24 percent stake if the sale is successful.
The Indian government gave in-principle approval in March for the sale of the loss making airline. The sale also includes Air India Express and the parent company’s 50 percent stake in ground handler Air India SATS Airport Services.
Air India Engineering Services, Air India Air Transport Services and Airline Allied Services are not part of the sale and will be moved into a separate company, the aviation ministry said.
Hotel Corporation of India which owns two hotels and provides airline meals at Delhi and Mumbai airports is also not included in the sale.
Air India serves 54 domestic and 39 international destinations and has been loss-making for many years.