Government To Begin Work On Monetising Air India Subsidiaries
NDTV
Government will start work on monetising Air India's four subsidiaries, including Alliance Air and non-core assets like land and building
After completing the significant Air India privatisation process, the government will now start work on monetising its four other subsidiaries, including Alliance Air, and over Rs 14,700 crore worth non-core assets like land and building, Secretary in the department of investment and public asset management (DIPAM) Tuhin Kanta Pandey said.
The government on October 8 had announced that salt-to-software conglomerate Tatas have won the bid to acquire debt-laden national carrier Air India for Rs 18,000 crore.
This includes a cash payment of Rs 2,700 crore and taking over Rs 15,300 crore debt. The deal, which is expected to be completed by December-end, also includes sale of Air India Express and ground handling arm AISATS.
Mr Pandey told agencies that his department will now get down to working out a plan for monetising the subsidiaries of Air India which are with the special purpose vehicle AIAHL and setting off the liabilities.