Govt mulling sale of Air India's ground handling services arm: Sources Noor Arora
The government is mulling strategic sale of Air India subsidiary AIATSL to raise funds and help cut debt of the national carrier, according to official sources. Strategic sale of Air India Air Transport Service (AIATSL), which provides ground handling services, is being planned as part of the turnaround scheme for Air India which is reeling under a debt burden of Rs 480 billion at end of March 2017. The official sources said strategic sale of AIATSL is in the works. "The Expression of Interest (EoI) for bidders would be floated soon after the GoM clears the EoI," the sources told PTI. The stake sale plan follows the decision of Finance Minister Arun Jaitley led ministerial panel in June to make the airline competitive, but cutting down debt and raising resources by selling land assets and other subsidiaries.
ARTICLE SOURCE: BS