Tuesday, June 22, 2021

Govt likely to reactivate disinvestment process of Air India's ground handling subsidiary

Govt reactivates disinvestment of Air India's ground handling subsidiary, AIATSL. Sources tell ET Now that an inter-ministerial group met last week to review the cancelled EOI's that were received in 2019.

ET Now learns that govt will soon float a preliminary information memorandum for it soon and plans to sell it parallelly with Air India. 

Sources in the know share that cancellation of AIATSL disinvestment in 2019 was just a procedure to start the disinvestment process afresh. "We are working on final contours, and plan to release the bid document soon with all details." shares, a source on anonymity. 

An inter-ministerial group on disinvestment consisting of the DIPAM secretary, aviation secretary and officials from the Finance Ministry met last week to review the expression of interests received for AIATSL in 2019.

Sources share that govt is looking to start the process afresh and parallelly with the Air India sale. Govt is likely going to put more than 50% stake in AIATSL on sale. 

AIATSL is a fully owned subsidiary of Air India that is into ground-handling services that include baggage, cargo handling, and all other services provided to airlines on the ground.

21/06/21 Karishma Asoodani/ETNowNews.com

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