The Narendra Modi government on Thursday said it's unrealistic to expect Air India divestment to be completed by end of the fiscal after the Centre extended the deadline for the submission of preliminary bids for the state-owned airline to December 14.

In an interview to CNBC-TV18, Tuhin Kanta Pandey, department of investment and public asset management (DIPAM) secretary, said the government has also allowed bidders to quote the enterprise value instead of a pre-fixed debt level to make the process more attractive.

(Edited by : Jomy Pullokaran)