Business

Govt Planning Strategic Sale Of 4 Air India Subsidiaries: Officials

JAVED SAIFI | 0
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| September 16 , 2018 , 15:41 IST

The government is working out a strategic sale of 4 subsidiaries of loss-making Air India, media reported on Sunday.

The four subsidiaries companies include Airline Allied Services Ltd (AASL), Hotel Corporation of India (HCI), Air India Air Transport Service Ltd (AIATSL) and Air India Engineering Service Ltd (AIESL).

The government has also prepared a list of Air India assets that could be hived off as part of the strategic sale plan including planning to sell the headquarter building of Air India in the national capital.

The airline has been fighting for survival as on an average Air India gets Rs 4,600-crore annual bailout package every year. Air India has a 17 per cent market share on international routes and 2,500 international routes slots per week across 43 countries.

Also Read: 40% Airbus A321 Planes Of Loss-Making Air India Grounded Due To Lack Of Spares: Report 

It serves a 12.4 per cent of the domestic passenger traffic and 16.55 per cent passenger traffic on international routes.

Previously on June 22, Air India launched its all-new revamped services with 'Maharaja Direct' offering first-class and business-class options to give a great customer experience and boost to revenue.

The all-new revamped service include westernized uniforms for cabin crew members, new upholstery, noise cancellation head phones and improved drinking water, delicious cuisines and refreshing option for beverages both alcoholic and non-alcoholic.

The airline has around 27,000 staff of employees which had a debt worth of Rs 49,100 crores as of March 2017.