New Delhi. Department of Investment and Public Asset Management ie DIPAM (DIPAM) Secretary Tuhin Kant Pandey has said that after the privatization of Air India, the government will now invest Rs 14,700 crore from its four other subsidiaries including Alliance Air. Will start work on monetization of non-core assets like land-building.
On October 8, the government announced that Tata Sons had won the bid to acquire debt-laden Air India for Rs 18,000 crore. This includes cash payments of Rs 2,700 crore and debt of over Rs 15,300 crore. The deal is expected to be completed by the end of December.
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AIAHL has subsidiary companies
Pandey said, “DIPAM will now work on a plan for monetization of subsidiary companies of Air India. These subsidiary companies are with Air India Asset Holding Limited (AIAHL) of the Government of India. The sale of subsidiary companies could not start as they are all related to each other. Until Air India is sold, we cannot move on to other things.”
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AIAHL was formed in the year 2019
For the sale of Air India, the government had formed a special purpose company AIAHL in 2019 to hold the debt and non-core assets of Air India Group. Air India has four subsidiary companies – Air India Air Transport Services Limited, Airline Allied Services Limited, Air India Engineering Services Limited and Hotel Corporation of India Limited.
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