Indian Government extends EOI deadline for Air India until 30 October

The Indian Government has extended the expression of interest (EOI) deadline for proposed strategic disinvestment of national carrier Air India (AI) until 30 October

This is the eighth corrigendum issued by the Department of Investment and Public Asset Management since a preliminary information memorandum (PIM) for inviting EOIs was issued on 27 January.

In January, the Indian Government agreed to divest a 100% stake in the country’s flag carrier AI.

The divestment will be carried out via the transfer of management control and sale of 100% equity share capital of AI. It will include AI’s 100% shareholding interest in Air India Express and 50% in Air India Sats Airport Services.

In addition, intimation to the qualified interested bidders (IB) has been extended from 14 September to 20 November.

In a statement, the department said: “The above changes are as per the requests received from the IBs in view of the prevailing situation arising out of Covid-19.”

“Further changes with respect to the Important Dates, if any, will be communicated to the IBs subsequently.”

The deadline was initially scheduled for 17 March but later extended to 30 April. It was further extended to 30 June, and again until 31 August.

In 2018, the Government of India’s Civil Aviation Ministry invited expressions of interest (EoI) for sale of 76% equity share capital of the debt-ridden Air India and transfer control of management to private parties.