The central government has not received any bids so far for its stake in state-run carrier Air India, the civil aviation secretary told media a day before the formal bidding process closes.
The government will not extend the deadline for submissions of interest in Air India, RN Choubey said today. The deadline for receiving bids has already been extended once to May 31.
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.
After the terms were disclosed, no company has come forward to say it is interesting or to reaffirm previous interest, while Jet Airways and rival IndiGo, owned by InterGlobe Aviation, have already publicly opted out of the race.
