Air India sale in limbo; Aviation secretary says no bids received so far

The Centre has not received any bids so far for its stake in state-run carrier Air India, aviation secretary R.N. Chaubey said on Wednesday, a day before the formal bidding process closes.

"No bids have been received so far for Air India. We will not extend deadline for Expression of Interest (EOI) submission," Chaubey said.

The deadline for receiving bids has already been extended once from May 14 to May 31.

The government is planning to divest a 76 per cent stake in the loss-making state-owned carrier, which has reportedly been laden with debts running into thousands of crores.

After the terms were disclosed, no company has come forward to say it is interested or to reaffirm previous interest.

 

Jet Airways and rival IndiGo, owned by InterGlobe Aviation, have already opted out of the race.