Coronavirus outbreak takes a toll on Air India's disinvestment process

Industry executives and investment bankers said there is less chance of the process being successful in the current situation as business houses, including airlines, are looking to conserve cash

The global outbreak of coronavirus has hit the disinvestment process of state-owned Air India. On Thursday, the government deferred the last date to submit expressions of interest (EoIs) for the national carrier by more than a month to April 30. The current deadline is Match 17.

“The above changes are in view of the requests received from interested bidders and the prevailing situation arising out of COVID-19,”a government notification said.

Sources said the decision was taken after India announced that it is suspending all visas till April 15, virtually sealing off its borders.

“It would have been impossible for foreign