Monday, September 18, 2017

Livewel Aviation shows interest in Air India's ground handling biz

Mumbai-headquartered Livewel Aviation has shown interest in acquiring the ground handling business of the debt-laden Air India, reports CNBC-TV18.

The company has written to Aviation Ministry in this regard.

Livewel Aviation is a family-owned business run by Manek Daver and Burzin Daver. The company provides ground handling and maintenance services to airlines.

So far, four companies have shown interest in the ground handling business of Air India including Bird Group and Celebi Aviation.

Last month, Bird Group had shown interest in acquiring debt-laden Air India's ground handling business. The company wrote a letter to the aviation ministry showing interest in investing in the national carrier, Civil Aviation Secretary RN Chaubey had said.

Earlier, IndiGo had expressed interest in taking over the carrier’s international operations.

Air India is reeling under debt of nearly Rs 52,000 crore. Of this, about Rs 28,000 crore is working capital debt and Rs 4,000 crore is interest. Despite receiving Rs 24,000 crore bailout package, the airline has failed to turn its fortune.
18/09/17 Moneycontrol