The government is making another attempt to divest its stake in Air India by selling 98 per cent of its stake in Air India Air Transport Services Ltd (AIASTL), the subsidiary which does grounding handling work.
The remaining 2 per cent stake in the company can be taken by the employees, but if they choose not to then the entire 100 per cent stake will be sold to a private entity.
On Tuesday, the Preliminary Information Memorandum (PIM) for the sale was issued to interested parties, thereby kick- starting the divestment process. The government has set March 26 as the last date for submission of interest from interested parties and intimating the qualified bidders on April 9.
