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Planes. Air India bailout, new extension for offers

Sale of the airline's shares began in January

March, April, June, August and now also October: for Air India the fifth consecutive postponement has arrived as regards the deadline for the presentation of expressions of interest in the flag carrier of the Asian country. The carrier has been making headlines lately due to a plane crash that killed 18 people, a fact that further exacerbated the corporate crisis. There was time until August 31 for the bailout of Air India, and one of the most convincing offers seemed to be that of Tata Group, an Indian industry active in various sectors (including the automotive sector).

The New Delhi government has instead decided to postpone the deadline to next October 30, motivating the choice with the economic slowdowns caused by Covid-19. The sale of the airline's shares had started on January 27 with the following March 17 as the last possible date for submitting offers. The extension was immediate, that is to say on 30 April, in addition to the 30 June and 31 August already mentioned. Meanwhile, there are still no updates on the serious accident of 7 August after the discovery and the first analyzes of the black boxes (read the article published by AVIONEWS).

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AVIONEWS - World Aeronautical Press Agency
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