Air In­dia’s ground han­dling sub­sidiary put on sale

The Gulf Today - Business - - REGION -

NEW DELHI: The Cen­tral gov­ern­ment has de­cided 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 Spe­cific Al­ter­nate Mech­a­nism, de­cided to divest the gov­ern­ment’s 100 per cent stake in Air In­dia Air Trans­port Ser­vices Lim­ited (AIATSL).

The de­ci­sion was taken af­ter the panel, which is headed by Fi­nance Min­is­ter Arun Jait­ley, met here. It as­sumes sig­nif­i­cance as the amount raised from the divest­ment of AIATSL will be used to re­tire some of the ac­cu­mu­lated debt of Air In­dia. The panel had de­cided to re­vive the car­rier.

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