Government plans to complete sale of Air India subsidiary AIATSL by March
Updated : November 26, 2018 08:16 AM IST
Air India is reeling under a huge debt burden of over Rs 50,000 crore and the government is planning to sell its non-core subsidiaries of the national carrier.
The sale proceeds would add up to the government's disinvestment kitty. The government has so far has raised over Rs 15,200 crore from CPSE stake sale in current fiscal as against the budgeted target of Rs 80,000 crore.
The strategic sale plan follows the decision by finance minister Arun Jaitley led ministerial panel in June to make Air India competitive, by way of cutting down debt and raising resources by selling land assets and other subsidiaries.