Govt Sells Air India Subsidiary AIATSL
The government has decided to sell the loss making subsidiary of Air India.
The government of india plans to sell Air India’s Ground handling subsidiary Air India Air Transport Services Limited (AIATSL). Air india is under a huge debt of Rs. 50,000. AIATSL earned a profit of Rs 61.66 crore while another subsidiary AI Express made a profit of Rs.297 crore. The government has identified the loss making assets and decided to sell them off.
The sale should be complete by the end of march 2019. Merchant banks will invited to help with the sale process. These are banks that specialise in loans and investments.
It was Arjun jaitley who decided to reduce AI’s loan by selling off some of its assets. These sales will be a big profit for the government.
