Business

After the sale of Air India, the government is preparing to sell its 4 subsidiary companies

Air India Sale Live Updates: New owner will be announced in a while, know full details

On 8 October, Tata Sons bought Air India for 18000 crores.

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) has said that after the privatization of Air India, the government now has four other subsidiaries, including Alliance Air, and land-buildings worth more than Rs 14,700 crore. – Will start work on monetization of key assets.

On October 8, the government announced that Tata Sons had won the bid to acquire debt-laden national airline Air India for Rs 18,000 crore. This includes cash payments of Rs 2,700 crore and debt of over Rs 15,300 crore. The deal is expected to be completed by the end of December. Pandey said, “DIPAM will now work on a plan for monetization of Air India’s subsidiaries. These subsidiaries are with Air India Asset Holding Limited (AIAHL) of the Government of India.

AIAHL was formed in 2019

“The sale of subsidiaries could not start as they are all linked to each other. Until Air India is sold, we can’t move on to other things.” was formed.

These are the four subsidiaries

Air India has four subsidiaries – Air India Air Transport Services Limited (AIATSL), Airline Allied Services Limited (AASL), Air India Engineering Services Limited (AIESL) and Hotel Corporation of India (HCI) Limited. .

The government got only 2700 crores

Tata Group has bought Air India for 18000 crores. Under this deal, she will repay the airline’s debt of Rs 15300 crore and the government will get Rs 2700 crore as cash.

Air India’s full fleet will also be available

DIPAM Secretary Tuhin Kant Pandey said that under this deal, the Tata Group will have 100 per cent stake in Air India after the acquisition. Apart from this, 100 percent stake in Air India’s subsidiary company Air India Express and 50 percent stake in Air India SATS also went to Tata Group. Under this deal, Tata Group will also get the entire fleet of Air India. Air India will have 117 wide body aircraft and 24 narrow body aircraft in its fleet. Apart from this, he will also have ownership rights on Air India, Indian Airlines and Maharaja brand.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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