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"\nThe Government of India has begun the sale process of two Air India (AI) subsidiaries, AI Airport Services Limited (AIASL) and AI Engineering Services Limited (AIESL), reported Press Trust of India (PTI) via Business Standard.\n\n\n\nLast year in October, the Indian government sold the country’s debt-laden&nbsp;national carrier Air India to Tata Sons, a holding company of the Indian multinational conglomerate Tata Group for a consideration of Rs180bn.\n\n\n\nAI was handed over to the buyer on 27 January 2022.\n\n\n\nHowever, the government at that time decided to retain AI’s four subsidiaries namely AIASL, AIESL, Alliance Air Aviation Limited (AAAL),&nbsp;and Hotel Corporation of India Limited (HCI) as well as other non-core assets.\n\n\n\nThese subsidiaries and non-core assets were transferred to a&nbsp;special purpose vehicle (SPV) called Air India Assets Holding Limited (AIAHL).\n\n\n\nAn official was quoted by the news agency as saying that the Department of Investment and Public Asset Management (DIPAM) has started investor meetings as well as roadshows to assess interest in AIASL and AIESL.\n\n\n\nPlans are on to invite EoIs from interested parties, the official further noted.\n\n\n\nAt the time of the deal, the Indian government said that it would later offload these subsidiaries and non-core assets.\n\n\n\nIn line with the government’s decision, DIPAM has now started the disposal process of AIASL and AIESL.\n\n\n\nIn April this year, Tata Sons Private Limited (TSPL)-purchased Air India proposed to acquire a 100% stake in budget carrier AirAsia India. TSPL, which has 83.67% of the equity share capital in AirAsia India, expressed its intent with the Competition Commission of India (CCI), to purchase the entire equity share capital of the company.\n"
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