Deadline for Air India bids extended till April 30

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The government has extended deadline for submitting bids for sale of Air India from March 17 to April 30. This has been done at the request of interested bidders and the global spread of coronavirus.

The bidders for 100% stake in Air India should have a net worth of 3500 crores. Earlier in 2018, the government wanted to offload only 76% stake in the national career.

Of the total liabilities of over 60 thousand crores, the buyer would need to absorb only 23 thousand crores, the rest will go to a special purpose vehicle.