Restarts divestment of AI’s assets
The government has offered to sell 100% of Air India Air Transport Services Ltd (AIATSL), Air India’s ground handling services provider to 46 airlines.
Ninety-eight per cent of the company’s shares are being offered through strategic sale with the remaining 2% will be reserved for employees of AIATSL. The company posted a net profit of Rs.711 crore in 2017-18, higher than Rs.334 crore in the previous year.
With this offer, the government is restarting the divestment process for the ailing national carrier, having failed to attract investors last year.
A preliminary information memorandum for disinvestment of AIATSL was issued on 12 Feb 2019, reported Press Trust of India.
The government’s Air India Assets Holding Limited has given ‘in-principle’ approval for the strategic sale of AIATSL by way of transfer of management control and sale of 100% equity share capital. fiinews.com