Corona virus epidemic and subsequent lockdown have caused damage to economic activity around the world. The aviation sector has been hit hard due to the ban on flights. Airline companies have canceled flights and cut staff salaries.
new Delhi. Economic activity has been affected worldwide due to coronavirus infection. In such a situation, the government has increased the bidding time for Air India by two months to 31 August. This is the third time the government has extended the deadline. The process of selling stake in the state-run airline Air India started on 27 January. The Department of Investment and Public Asset Management (DIPAM) released Corrigendum, a manifesto of expression of interest, saying that the deadline for bidding for the airline has been increased.
The first letter of interest was issued to sell a stake in Air India in January this year. Then the last date for bidding was 17 March. It was then extended to 30 April. Then again its deadline was extended to 30 June.
Now it has been increased to 31 August. DIPAM has also stated in the amendment put on its website that the period of informing the selected bidders has also been extended for two months. The new date is 14 September. DIPAM said that if any further changes are made on important dates, the interested bidders will be informed about that.
What is difficult?
Corona virus epidemic and subsequent lockdown have caused damage to economic activity around the world. The aviation sector has been hit hard due to the ban on flights. Airline companies have canceled flights and cut staff salaries.
Earlier, the government has raised the deadline for bidding for its entire 52.98 per cent stake in Bharat Petroleum Corp Ltd (BPCL) to 31 July. Its initial deadline was May 2, which was earlier extended to June 13.
