Latest News | EoI for Sale of Ground-handling Arm of Erstwhile National Carrier Air India Next Fiscal

New Delhi, Feb 13 (PTI) The government will start working on selling ground-handling arm Alliance Air of erstwhile national carrier Air India and the Expression of Interest (EoI) is expected in the next fiscal, an official said.

"We already have the Cabinet approval for selling the subsidiaries of Air India. So we will come out with an EoI inviting bids for one of the ground-handling arms in the next fiscal," an official told PTI.

Also Read | Weather Forecast: Minimum Temperatures Likely To Drop Slightly In North India Due To Snowfall In Higher Altitude Areas; Dense Fog In Punjab, Haryana Over Next 24 Hours.

Currently, four Air India subsidiaries -- Air India Air Transport Services Ltd (AIATSL), Airline Allied Services Ltd (AASL) or Alliance Air, Air India Engineering Services Ltd (AIESL) and Hotel Corporation of India Ltd (HCI) are with Air India Assets Holding Ltd (AIAHL), which is a special purpose vehicle set up in 2019 for holding non-core assets and debt of Air India.

The government had last month transferred the ownership of Air India to Tata Group, after the later emerged as the winning bidder for buying the loss-making carrier.

Also Read | Indian Railway Recruitment 2022: Apply for 756 posts in East Coast Railway RRC Bhubaneshwar at rrcbbs.org.in; Check Details here.

The official further said that it is also to be decided whether the Air India Specific Alternative Mechanism (AISAM) for Air India privatisation or the Alternative Mechanism for CPSE disinvestment would be the decision-making ministerial panel for privatising these subsidiaries.

The AISAM is headed by the Home Minister and comprises the Finance Minister, Commerce and Industry Minister and Civil Aviation Minister.

The Alternative Mechanism of CPSE disinvestment comprises Road Transport and Highways Minister, Finance Minister and Commerce and Industry Minister.

Separately, AIAHL also has over Rs 14,700 crore worth non-core assets like land and building of Air India which also has to be monetised. These assets were transferred to AIAHL before the airline's privatisation.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)