Air India sets up nodal cell to facilitate interaction among advisors for disinvestment

Air India has constituted a nodal cell at its headquarters in New Delhi to facilitate interaction between various advisors, which have been appointed to assist the airline in its disinvestment process, said an official document.

The Civil Aviation Ministry had told Air India on May 6 that it should prepare 2018-19 financials for itself and its subsidiaries by end of June as the Prime Minister's Office (PMO) has decided to speed up the disinvestment process of three of its wings.

During last year's disinvestment process, which did not succeed, the national carrier had appointed EY as its transaction advisor and Cyril Amarchand Mangaldas as its legal advisor. It is not clear if the same set of advisors would be assisting the airline in its disinvestment process this year.

An order issued by the national carrier on May 31, said, "For taking forward the process of disinvestment of Air India Limited it has been decided to constitute a nodal cell in Airlines House, to facilitate the interaction between the various advisors appointed by DIPAM to assist Air India in the process of disinvestment."