Indian government looking to sell Air India ground handling subsidiary

posted on 13th February 2019 by Justin Burns
Indian government looking to sell Air India ground handling subsidiary

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.