Thursday, March 30, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Govt begins sale of erstwhile national carrier Air India’s 2 subsidiaries

by Euro Times
September 19, 2022
in Business
Reading Time: 2 mins read
A A
0
Home Business
Share on FacebookShare on Twitter



The government has initiated the process of privatising 2 subsidiaries AIASL and AIESL of erstwhile national carrier Air India, an official said.


The Department of Investment and Public Asset Management (DIPAM) has initiated investor meetings and roadshows to gauge interest in AIASL and AIESL. We will soon invite EoIs from interested bidders, the official said.


A debt-laden Air India was sold to Tata Group in October last year for Rs 18,000 crore. The actual handover to Tatas happened on January 27, 2022.


However, four Air India subsidiaries — Air India Airport Services Ltd (AIASL), Air India Engineering Services Ltd (AIESL), Alliance Air Aviation Ltd (AAAL), and Hotel Corporation of India Ltd (HCI) — and other non-core assets, painting and artefacts, besides, non-operational assets were not part of the deal.


These subsidiaries and non-core assets valued at about Rs 15,000 crore have been transferred to an SPV Air India Assets Holding Ltd (AIAHL).


The government had then said these subsidiaries and non-core assets of the carrier would eventually be sold off. Towards that goal, DIPAM has initiated the exercise of investor meetings for privatisation of AIASL and AIESL.


As of August last year, Air India had a total debt of Rs 61,562 crore. Of this, the Tata Group took over Rs 15,300 crore liabilities and the rest 75 per cent or around Rs 46,000 crore was transferred to AIAHL.


The government has squared off with Air India debtors its share of pending dues.


The government, in current fiscal year, has budgeted to raise Rs 65,000 crore from CPSE disinvestment. So far, it has raised about Rs 25,000 crore.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)



Source link

Tags: AirbeginscarriererstwhilegovtIndiasNationalsalesubsidiaries
Previous Post

Sadock John, from robbing houses to a football World Cup | Football

Next Post

European shares open lower as tech shares fall By Reuters

Related Posts

Constellation Brands taps Tastemade to help draw new customers

by Euro Times
March 30, 2023
0

Constellation Brands is pouring into the streaming business.The company, which owns beer, wine and spirits brands, is forming a partnership...

China’s Central Bank Pumps More Liquidity Into Market

by Euro Times
March 30, 2023
0

CGinspiration By Iris Pang, Chief Economist, Greater China The People's Bank of China has already cut its Required Reserve Ratio...

India’s PC, tablet market grew 5% to reach 19.6 million units in 2022

by zee business
March 30, 2023
0

Despite a steep fall in the fourth quarter of 2022, last year was a successful one for the Indian PC...

Pope Francis Admitted To Hospital With Respiratory Infection

by BQ Desk
March 29, 2023
0

Pope Francis was admitted to Rome's Gemelli Hospital after routine medical check-ups revealed a respiratory infection, the Vatican News reported. "This...

99.9% of UPI transactions are bank account-to-account: NPCI

by Euro Times
March 29, 2023
0

After it introduced interchange of up to 1.1 per cent on UPI transactions above ₹2,000 made through prepaid instruments, cards...

Israeli infrastructure as code co env0 raises $18.1m

by Globes correspondent
March 30, 2023
0

env0 provides users with frictionless access to self-service infrastructure environments and resources. Infrastructure as Code (IaC) workflow...

Next Post

European shares open lower as tech shares fall By Reuters

Crypto Bad Guys Vs. 150 U.S. Prosecutors - Who Will Win?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

March 30, 2023

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

March 30, 2023

Wall St opens higher as bank fears fade, focus on inflation data By Reuters

March 30, 2023

Terra Luna Classic Network Upgrade; Joint L1 Task Force Q2 Plan

March 30, 2023

Microsoft Defender flagged legit URLs as malicious

March 30, 2023

Constellation Brands taps Tastemade to help draw new customers

March 30, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

BLOODY HORROR: Bystanders Videotape Father Stabbed to Death Inside Starbucks in Front of 3-Yr-Old Daughter For Asking Attacker to Stop Vaping Near His Child

Syrah Resources breaks production record, says U.S. anode plant on track (OTCMKTS:SYAAF)

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In