With no takers, Air India’s divestment plan nosedives
Picture for representation
Picture for representation
New Delhi : The central government’s plan to divest a majority stake in the national passenger carrier Air India seems to have run into trouble, as no bids were received for the cash-strapped airline.
According to the Ministry of Civil Aviation, “no response” was received till 5 p.m. on Thursday which was the extended submission deadline for the ‘Expression of Interest’ (EoI) bids under Air India’s divestment process.
“As informed by the Transaction Adviser, no response has been received for the Expression of Interest floated for the strategic disinvestment of Air India,” the ministry said in a tweet.
“Further course of action will be decided appropriately.”
On May 1, the government had extended the last date for EoI bid submission to May 31, 2018 from May 14.
Published on: May 31, 2018 at 18:16 IST
IANS
