Air India Sale Hits Delays As Key Deadline Removed

New Delhi, Jan 5 (Agency) The Air India sale has been delayed as the government removed its 5th January deadline to notify qualifying bidders. The government will now directly reach out to the final bidders and provide them access to key data about Air India. The delay could mean the sale process continues beyond the spring timeline originally planned. Air India has struggled to complete its sale process in the last year due to the current aviation climate. The deadline to submit bids was moved four times before the final bids were submitted in mid-December. With the bids in, many were hoping that there would be no further delays to the process.

However, last week, the government confirmed that it would not be releasing the list of qualified buyers and details of their bid on January 5th. Instead, it will now directly speak to the qualifying bidders and plan the next steps of the process. It’s unclear why the government opted to push this deadline to announce the bids and other steps have been moved too. According to Mint, the qualifying bidders are eligible to access Air India’s ‘Virtual Data Room’ (VDR), giving them access to key information about the airline and its finances on January 6th.

These last-minute delays mean the Air India sale will not be complete before the fiscal year 2020-21 that ends on March 31st. The process will continue into the fiscal year 2021-22 and beyond April. However, barring more delays, the government could wrap up the process before the summer of this year.