New Delhi: The government plans to sell the regional arm of Air India separately, days after Tata Sons emerged as the highest bidder for the parent carrier in an auction that did not include the unit, Prime Minister Narendra Modi said. Underscores Modi’s efforts to take away the state. Participation in private sector business.
market type Alliance Air Services It is different from its parent and the government has decided to take it out of the sale process, Tuhin Kanta Pandey, top bureaucrat in the Department of Investment and Public Asset Management, told reporters in New Delhi on Tuesday.
He said the administration expects the sale of Air India to be completed by December, with the ground-handling unit first being detached.
India is targeting to raise Rs 1.75 lakh crore ($23.2 billion) a year by March 2022 to make up for the pandemic-linked fall in tax revenue.
Broader offerings include an initial public offering by Life Insurance Corporation of India – which could be the country’s largest – as well as stake sale in companies including Bharat Petroleum Corp.
Alliance Air operates 18 ATR-72 turboprop aircraft to 47 destinations, connecting the capital New Delhi and financial hub Mumbai with smaller cities across the country, according to its website.
Market leader IndiGo, operated by InterGlobe Aviation, also operates a fleet of ATR aircraft to connect the so-called Tier-2 and Tier-3 regional centres.
Pandey also said on Tuesday that the government is currently working on the valuation of Life Insurance Corp, which it aims to complete by December before the IPO comes out.
market type Alliance Air Services It is different from its parent and the government has decided to take it out of the sale process, Tuhin Kanta Pandey, top bureaucrat in the Department of Investment and Public Asset Management, told reporters in New Delhi on Tuesday.
He said the administration expects the sale of Air India to be completed by December, with the ground-handling unit first being detached.
India is targeting to raise Rs 1.75 lakh crore ($23.2 billion) a year by March 2022 to make up for the pandemic-linked fall in tax revenue.
Broader offerings include an initial public offering by Life Insurance Corporation of India – which could be the country’s largest – as well as stake sale in companies including Bharat Petroleum Corp.
Alliance Air operates 18 ATR-72 turboprop aircraft to 47 destinations, connecting the capital New Delhi and financial hub Mumbai with smaller cities across the country, according to its website.
Market leader IndiGo, operated by InterGlobe Aviation, also operates a fleet of ATR aircraft to connect the so-called Tier-2 and Tier-3 regional centres.
Pandey also said on Tuesday that the government is currently working on the valuation of Life Insurance Corp, which it aims to complete by December before the IPO comes out.
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