The Narendra Modi government may invite expressions of interest (EoI) for the sale of Air India's engineering subsidiary, Air India Engineering Services (AIESL) by January-February 2023, sources privy to the developments told CNBC-TV18.
However, plans to sell the ground handling subsidiary, Air India Airport Services (AIASL), could take longer, according to multiple people familiar with the development.
According to sources in the know told CNBC-TV18 that the government is studying different options such as the structure of the AIASL deal as 51 percent of AIASL needs to be held by an Indian.
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In September, the Department of Investment and Public Asset Management (DIPAM) initiated investor meetings and roadshows to gauge interest in AIASL and AIESL.
Currently, four Air India subsidiaries -- Air India Air Transport Services Ltd (AIATSL), Airline Allied Services Ltd (AASL) or Alliance Air, AIESL and Hotel Corporation of India Ltd (HCI) are with Air India Assets Holding Ltd (AIAHL), which is a special purpose vehicle set up in 2019 for holding non-core assets and debt of Air India.
(Edited by : Sudarsanan Mani)
First Published: Nov 17, 2022 7:13 PM IST
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