NEW DELHI : The Centre has decided to divest its entire stake in Air India Ltd and its no-frill subsidiary Air India Express, a year after it failed to attract bids for a partial stake sale in the cash-strapped national carrier.
“Air India Specific Alternative Mechanism (AISAM) has approved the 100 percent sale of Government of India’s stake in Air India, along with Air India Express, and government’s stake in AISATS for the re-initiated strategic divestment of Air India,” civil aviation minister Hardeep Singh Puri informed the Rajya Sabha on Wednesday.
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.
