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The withdrawal of a portion of the debt accumulated by Air India of more than A gain of 48,000 crores and the improvement of efficiency as part of a recovery plan should generate investor interest in the national deficit carrier.
New Delhi: In a final effort to save the national carrier Air India, a ministerial panel Finance Minister Arun Jaitley decided Tuesday to sell 100% of its ground handling business and to use the proceeds of this operation to withdraw some of the huge pile of accumulated debts of the national carrier.
In accordance with the plan, the government will transfer Air India Air Services Services Ltd. a special vehicle (SPV) directly owned by the government. Once the transfer is complete, the demonstrations of interest to the company will be invited, Secretary of Civil Aviation, R.N. Choubey told reporters after the meeting.
The effort is to push for the sale of this tax itself. Removing a portion of Air India's accumulated debt of more than 48,000 crowns, as well as improving efficiency as part of a recovery plan, should spark investor interest in the national carrier currently in deficit. The ministerial panel also decided to proceed with the sale of Pawan Hans for which a request for proposals had already been issued.
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