May 30, 2018 / 8:34 AM / a month ago

No bids for Air India so far, will not extend deadline: aviation secretary

NEW DELHI (Reuters) - The government has not received any bids so far for its stake in state-run carrier Air India, the civil aviation secretary told TV channels, a day before the formal bidding process closes.

The Air India logo is seen on the facade of its office building in Mumbai, July 7, 2017. REUTERS/Danish Siddiqui/Files

The government will not extend the deadline for submissions of interest in Air India, R.N. Choubey said on Wednesday. The deadline for receiving bids has already been extended once to May 31 from May 14.

Prime Minister Narendra Modi’s government, keen to sell the loss-making, debt-ridden airline, finalised plans in late March to divest a 76 percent stake and offload about $5.1 billion of its debt.

Reporting by Aditi Shah; Editing by Alex Richardson

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