Thursday, August 09, 2018

Plans afoot to sell 2 Air India subsidiaries

New Delhi: Undaunted by the failure of Air India sale, the government may put on block the airline’s ground-handling and engineering units soon. A preliminary information memorandum (PIM) on the two subsidiaries are being prepared at full speed to invite expression of interest (EoI) from interested private parties, a top official told FC.
A successful transaction would help the Modi government make up partly for the poor show on disinvestment of the debt-ridden carrier. The airline drew a blank in the first round of bidding with no private party showing up on the last day of bid submission on May 31.
“We have been advised to offer subsidiaries for sale. The in-house teams are working on preliminary memorandum for ground-handling and engineering units,” said the official.
Industry experts gave thumbs-up to the new move saying there was enough investor interest for these firms.
09/08/18 Deccan Chronicle