After 3 failed bids, Government sells its stake in Pawan Hans to private consortium
After three unsuccessful attempts at disinvesting its stake in the helicopter services provider, the government Friday approved the sale of Pawan Hans Ltd along with management control to Star9 Mobility Pvt Ltd — a three-way consortium between Big Charter Private Limited, Maharaja Aviation Private Limited and Almas Global Opportunity Fund SPC.
This disinvestment is the second major sale from the government’s aviation portfolio in the last 12 months — Air India went to Tata Group in January this year.
Pawan Hans, which currently operates 42 helicopters, is a 51:49 joint-venture between the government and state-owned Oil & Natural Gas Corp Ltd.
