The firm — AIATSL — supplies ground handling support at most of the airports in India.
The Central government has determined to go in for a strategic disinvestment of Air India’s ground handling subsidiary to partially retire the national passenger carrier’s accumulated debt.
Accordingly, an inter-ministerial panel, Air India Distinct Alternate Mechanism, determined on Tuesday to divest the government’s a hundred per cent stake in Air India Air Transport Providers Limited (AIATSL).
The decision was taken soon 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 utilized to retire some of the accumulated debt of Air India.
A senior government official explained the strategic disinvestment of ground handling subsidiary AIATSL will be done soon after the ground handling unit is transferred to a SPV (specific function car).
The official advised reporters that the EoI (Expression of Interest) document will then be issued.
Earlier, the inter-ministerial panel had determined to revive the national passenger carrier by sale of land and other assets and to offload its debt to an SPV which has presently been incorporated.
The firm — AIATSL — supplies ground handling support at most of the airports in India. It was operationalised in February 2013.