Air India accumulated losses of about Rs 70,820 crore till March 31, 2020: Govt

By: |
August 04, 2021 6:11 PM

Financial bids for Air India are likely to be received from qualified interested bidders by September 15 this year.

The Centre had invited Expression of Interests (EoIs) for Air India on January 27, 2020. The last date of submission -- after multiple extensions due to COVID-19 pandemic -- of EoIs was December 14, 2020.The Centre had invited Expression of Interests (EoIs) for Air India on January 27, 2020. The last date of submission -- after multiple extensions due to COVID-19 pandemic -- of EoIs was December 14, 2020.

Air India has been suffering heavy losses since its merger with Indian Airlines in 2007 and it has accumulated losses of about Rs 70,820 crore till March 31, 2020, Minister of State for Civil Aviation V K Singh said on Wednesday.

Financial bids for Air India are likely to be received from qualified interested bidders by September 15 this year.

The Centre had invited Expression of Interests (EoIs) for Air India on January 27, 2020. The last date of submission — after multiple extensions due to COVID-19 pandemic — of EoIs was December 14, 2020.

“Air India is suffering heavy losses since its merger and has accumulated losses of about Rs 70,820 crore till March 31, 2020,” Singh said in his written reply to a question in the Rajya Sabha.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Facebook India appoints former IAS officer Rajiv Aggarwal as Head of Public Policy
2India Inc expected to dole out 8.6 pc average increment in 2022: Deloitte survey
3Shapoorji Pallonji Group sells Eureka Forbes to Advent in Rs 4,400-crore deal