World Economy

Air India to Sell 4 Subsidiaries

Air India to Sell 4 SubsidiariesAir India to Sell 4 Subsidiaries

The government plans to soon initiate the strategic sale process for at least four subsidiaries of loss-making Air India, including Airline Allied Services Ltd and Hotel Corporation of India, according to officials, PTI reported. Besides, plans are on the anvil for selling the headquarter building of Air India in the national capital as well as various other land assets and buildings of the airline in different parts of the country. The government has prepared a list of the airline’s assets that could be hived off as part of the strategic sale plan for Air India and its subsidiaries, officials said. According to them, the disinvestment process is likely to be initiated soon for four Air India subsidiaries—AASL, HCI, Air India Air Transport Service Ltd and Air India Engineering Service Ltd. While AASL, under the name Alliance Air, provides regional air connectivity, HCI owns and operates two hotels in Delhi and Srinagar, among others. AIATSL provides ground handling and cargo handling services. AIESL is mainly into maintenance, repair and overhaul of engines.

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