After Air India privatisation, work to monetise four other subsidiaries to begin

After the historic Air India privatisation, the government will now start work on monetising its four other subsidiaries, including Alliance Air, and over Rs 14,700 crore worth non-core assets like land and building, DIPAM Secretary Tuhin Kanta Pandey said.

The government on October 8 had announced that salt-to-software conglomerate Tatas have won the bid to acquire debt-laden national carrier Air India for Rs 18,000 crore.

This includes a cash payment of Rs 2,700 crore and taking over Rs 15,300 crore debt. The deal, which is expected to be completed by December-end, also includes sale of Air India Express and ground handling arm AISATS.

Pandey said that the Department of Investment and Public Asset Management (DIPAM) will now get down to working out a plan for monetising the subsidiaries of Air India which are with the special purpose vehicle AIAHL and setting off the liabilities.