A government official said Privatisation of Air India may spill into next fiscal year as the divestment process is unlikely to conclude in the remaining a little over three months of the current fiscal 2020-21. The bidders includes Salt-to-software conglomerate Tata Group and US-based fund Interups Inc were among "multiple" entities that put in preliminary bids last week for buying loss-making National carrier Air India. 

A group of over 200 Air India employees also submitted an expression of interest (EoI) for the carrier in partnership with Interups at the close of the deadline on December 14. The official said, “The Transaction Advisor will inform the qualified bidders by January 6 following which the bidders will be given access to virtual data room (VDR) of Air India". “The transaction will be concluded only in next fiscal as we are expecting bidders to have a lot of queries once they get access to VDR and before they put in their financial bids,” the official told reporters. 

Indian government is selling its entire 100 per cent stake in Air India that has been in losses ever since its 2007 merger with domestic operator Indian Airlines. The stake sale process got delayed due to the COVID-19 pandemic and the government has extended five times the deadline to submit preliminary bids for the national carrier. 

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