A Ministerial panel cleared a proposal for strategic sale of Air India’s (AI) ground handling subsidiary AIATSL, an official said.
The approval comes amid the government working on ways to revive the fortunes of AI — estimated to have debt burden of more than ₹50,000 crore — including sale of non-core assets.
“The Alternative Mechanism has approved EoI (expression of interest) together with preliminary information memorandum for Air India Air Transport Services Limited (AIATSL) sale,” an official said.
Proceeds from the sale would be used to pay-off part of AI’s debt. The Alternative Mechanism on AI disinvestment has decided to proceed with strategic sale through divestment of 100% ownership of AIATSL, the official added.
