The government has approved 100 percent stake sale in state-owned airline Air India’s ground-handling company Air India Air Transport Services Limited (AIATSL). The approval comes at a time when the government is working on ways to revive the fortunes of Air India — estimated to have the debt burden of more than Rs 500 billion, including the sale of non-core assets.
AIATSL is Air India’s only profitable subsidiary. In 2016-17, it clocked a profit of over Rs 334 million, earning Rs 6.2 billion in revenues from its handling operations.
Source- Business Standard