The government on Monday invited preliminary bids to divest its entire stake in Air India, and the airline’s subsidiary Air India Express along with its joint venture Air India SATS Airport Services Private Limited. The government owns 100% stake in Air India, and its subsidiary Air India Express. AISATS is a joint venture partnership between Air India and Singapore Airport Terminal Services (SATS) Limited, which provides ground and cargo handling services. “The Government of India (GOI) has given ‘in-principle’ approval for the strategic disinvestment of AI (Air India) by way of the transfer of management control and sale of 100% equity share capital of AI held by GOI which will include AI’s shareholding interest of 100% in AIXL (Air India Express Limited) and 50% in AISATS (Air India SATS Airport Services Private Limited)," the document said. That time, the government had wanted to sell the loss-making parent with its profitable arm, Air India Express.

Source: Mint January 27, 2020 02:48 UTC