Govt working on strategic sale of Air India subsidiary AIATSL
Updated : September 07, 2018 02:37 PM IST
Strategic sale of Air India Air Transport Service (AIATSL), which provides ground handling services, is being planned as part of the turnaround scheme for Air India which is reeling under a debt burden of Rs 48,000 crore at end of March 2017.
The stake sale plan follows the decision of Finance Minister Arun Jaitley led ministerial panel in June to make the airline competitive, but cutting down debt and raising resources by selling land assets and other subsidiaries.
The Group of Ministers (GoM) had decided to revive Air India after the government's offer to sale 76 percent stake in the airline failed to attract any bidder earlier this year.