The firm — AIATSL — gives ground managing support at most of the airports in India.
The Central government has made the decision to go in for a strategic disinvestment of Air India’s ground managing subsidiary to partially retire the nationwide passenger carrier’s accumulated debt.
Accordingly, an inter-ministerial panel, Air India Particular Alternate Mechanism, made the decision on Tuesday to divest the government’s 100 per cent stake in Air India Air Transport Services Restricted (AIATSL).
The choice was taken right after the panel which is headed by Finance Minister Arun Jaitley met here. It assumes significance as the quantity raised from the divestment of AIATSL will be employed to retire some of the accumulated debt of Air India.
A senior government official explained the strategic disinvestment of ground managing subsidiary AIATSL will be carried out right after the ground managing unit is transferred to a SPV (specific purpose automobile).
The official advised reporters that the EoI (Expression of Curiosity) document will then be issued.
Earlier, the inter-ministerial panel had made the decision to revive the nationwide passenger carrier by sale of land and other assets and to offload its debt to an SPV which has previously been incorporated.
The firm — AIATSL — gives ground managing support at most of the airports in India. It was operationalised in February 2013.