The Indian government may relax the deadline for submitting an expression of interest (EoI) to buy 76 per cent stake in the state-owned carrier Air India.
The structure of the deal will, however, remain unchanged, stated a report in Business Standard.
“Some prospective bidders may feel that the timeline of 45 days given to submit an EoI for the airline is too short to do due diligence and decide to participate in bidding. If we get enough of such suggestions in pre-bid consultations, there is a possibility that the deadline will be extended,” Business Stndard quoted a senior government official.
According to the preliminary information memorandum, bidders participating as a consortium have to finalise their shareholding structure before submitting the EoI. The shareholding pattern of the consortium cannot be changed for three years after the transaction is done.
Meanwhile, Swiss Aviation Consulting (SAC) has shown interest in bidding for Air India.
Economic Times quoted a senior aviation ministry official saying that this is the first international aviation group to express interest in the national carrier. However, industry experts have expressed doubts over the seriousness of the move and the Swiss company may only be scouting for its clients. “Swiss Aviation Consulting, over a couple of months ago, had expressed interest in bidding for Air India,” the report quoted the aviation ministry official who had requesting anonymity.
Other foreign companies that could bid for the national carrier are Singapore Airlines with the Tata group and Air France KLM with Jet Airways.
IndiGo recently opted out of the race saying that it was only interested in in Air India’s international routes and not its domestic operations. However, the Indian government wants the prospective buyer to take on all of Air India’s operations.
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