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 48,000 crore 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.
07/09/18 PTI/Economic Times
To Read the News in full at Source, Click the Headline
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 48,000 crore 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.
07/09/18 PTI/Economic Times
0 comments:
Post a Comment