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The government on Tuesday approved 100 per cent stake sale in state-owned airline Air India’s ground-handling company Air India Air Transport Services Limited (AIATSL).
The approval comes at a time when the government is working on ways to revive the fortunes of Air India — estimated to have debt burden of more than Rs 500 billion, including sale of non-core assets.
Proceeds from the sale of AIATSL would be used to pay off part of Air India’s debt. “Strategic sale of 100 per cent share sale in AIATSL has been approved,” Civil Aviation Secretary Rajiv Nayan Choubey said.
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