Air India's divestment process comes to naught

No response has been received for the Expression of Interest floated for the strategic divestment of Air India

The government on Thursday said no bids have been received for the strategic divestment of Air India.

The deadline for submission of Expression of Interest ended on Thursday.

"As informed by the Transaction Adviser, no response has been received for the Expression of Interest floated for the strategic divestment of Air India," the Civil Aviation Ministry said in a tweet.

"Further course of action will be decided appropriately," it added.

EY is the transaction advisor for the process.

Photograph: Regis Duvignau/Reuters