The government plans to complete the sale of Air India ground handling subsidiary AIATSL by March 2019, an official said. 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.
“We are looking to conclude strategic sale of Air India Air Transport Services Limited (AIATSL) in current fiscal. We will soon invite bids from merchant bankers for managing the sale process,” the official told PTI. 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.