The Indian government has reportedly offered to sell cash-strapped Air India’s ground handling subsidiary Air India Transport Services Ltd (AIATSL).
The Times of India reports that the government is seeking to offload a 98 per cent stake through a strategic sales and the remaining two per cent would be offered to employees of AIATSL.
Air India has huge debts but AIASTL is profitable and posted a net profit of Rs 711 crore in 2017/18, Rs 334 crore up on the previous year.
AIATSL has reportedly been providing services to 46 airlines including the likes of Emirates, GoAir, Qatar Airways and Lufthansa.
