Government to sell Air India subsidiaries – Sangri Today

Government to sell Air India subsidiaries: Sale process of AIASL and AIESL has started, last year Tata Group bought Air India for 18,000 crores

After Air India, the government has now started the process of selling two other companies associated with it. These two companies are Air India’s subsidiary, Air India Airport Services Limited (AIASL) and Air India Engineering Services Limited (AIESL). An official provided this information.
“The Department of Investment and Public Assets Management (DIPAM) has initiated meetings and road shows to verify investor interest in AIASL and AIESL. We will soon be inviting EOIs from interested bidders “, said the official.
Debt-ridden Air India was sold by the government to the Tata Group in October last year for Rs 18,000 crore. After that, Air India was fully handed over to the Tata Group on January 27, 2022.
However, Air India has four subsidiaries – Air India Airport Services Limited (AIASL), Air India Engineering Services Limited (AIESL), Alliance Air Aviation Limited (AAAL) and Hotel Corporation of India Limited (HCI) and several non-core assets in this sector . was not part of the deal.
These subsidiaries and non-core assets worth around Rs 15,000 crore have been transferred to an SPV-Air India Assets Holding Limited (AIAHL). The government then declared that these subsidiaries and non-essential assets would be sold at a later date. To this end, DIPAM organized meetings of investors for the privatization of AIASL and AIESL.
In August last year, Air India had a total debt of Rs 61,562 crore. Of this amount, the Tata Group took over responsibility for Rs 15,300 crore and the remaining 75%, or approximately Rs 46,000 crore, was transferred to the AIAHL.
The government has settled its share of the debts with debtors of Air India. The government has planned to raise Rs 65,000 crore through divestment from CPSE in the current financial year. So far, it has raised around Rs 25,000 crore.

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About Jean R. Manzer

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