Friday, November 24, 2017

Air India kickstarts process of disinvestment internally, hopes to find bidder

National carrier Air India has set the ball rolling internally for the process of disinvestment that the government had announced of 'in-principle' after the meeting of Cabinet Committee on Economic Affairs on June 28.
The government hopes to find a bidder and complete the process of sale of Air India and its five subsidiaries by mind-2018.
In an office order dated November 18, Rajiv Bansal, CMD of Air India had mentioned that the PSU is forming five committees to meet the guidelines laid out by the Ministry of Civil Aviation.
The committees that will work on every aspect of divestment will cover Finance, HR, P&F Department, Secretarial & Procedural matters including formalization of relationship with subsidiary companies & future business plan of subsidiary plans, and finally, Bilateral Slots, other Commercial Arrangements and Issues.
V Hejmadi, Director, Finance, and S Venkat, Advisor, Finance will be overseeing and coordinating between all the afore-mentioned teams and reporting back on a fortnightly basis to CMD Rajiv Bansal.
23/11/17 Poulomi Saha/Deepali Singh