Tuesday, January 28, 2020

Air India may finally have a buyer(s). Hint: Ultra complex sale document

he release of the Air India preliminary information memorandum (PIM) on Monday was received with a flurry of activity. As predicted, the sale of Air India is actually a sale of parts. What is being divested is a 100 percent stake in Air India, Air India Express and a fifty percent stake in AirIndiaSATS (the ground handling arm).
What is not being divested is Air India Engineering Services Limited — the engineering arm; Airline Allied Services (AASL) — the regional airline serving Tier 2 and Tier 3 cities; Hotel Corporation of India (HCI); and Air India Air Transport Services Limited (AIATSL) — the ground handling arm.
The PIM is not quite the document that was anticipated.
Satyendra Pandey (CNBC TV18) writes what the PIM does not reveal is as important as what it does >>

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