The central government is set to kick-start the process to sell the former subsidiaries and real estate belonging to Air India.
The entire procedure is supposed to be completed in the next year and half. However, certain transactions could be rounded up as early as next month. The centre could pocket something around Rs 16,000 crore through these sales.
Air India, the Air India Express and a 50 per cent stake in the Air India Singapore Airport Terminal Services were sold to the Tata Group by the central government two months ago.
However, there are some other assets like the AI Air Transport Services, AI Engineering Services, Alliance Air and the Air India building in Nariman Point that are still owned by the government-owned AI Asset Holdings Ltd (AIAHL).
“We will start the sale of the engineering and ground handling subsidiaries together and that should happen soon. Alliance Air will be sold post that and all of its real estate assets will be sold over the same period of time,” an official in the know of developments was quoted in a report by The Economic Times (ET).