Today Current Affairs - Latest Current Affairs - Current Affairs

Click for Special Gk Quiz Free Mock Test in English Free Mock Test in Hindi Monthly Current Affairs
Facebook Twitter google+ Pinterest

Government will sell subsidiary company,AIATSL as Air India could not be sold

Government will sell subsidiary company,AIATSL as Air India could not be sold

Disturbed by not getting success in selling a stake in the airline company Air India, the central government has taken a new step as an alternative arrangement. The government has approved strategic sale of Air India subsidiary AITSL. This company looks after the work of ground handling, the safety of passengers, cargo and ramps.

On Tuesday, the GoM formed by the Central Government approved this sale in its subsidiary AIATSL, under Air India's Revival Plan. This group included Finance Minister Arun Jaitley and Civil Aviation Minister Suresh Prabhu.

It has been said from the sources of the government that the money received from the sale of AIATL will be used to pay the debt of Air India.

Loan on Air India: Let us say that Air India has a debt of over Rs 50,000 crore, for which efforts were made to disinvest the company. Now, the Group of Ministers, headed by Arun Jaitley, decided to disinvest the 100 percent stake in AIATL to lift Air India from debt.

Civil Aviation Secretary Rajiv Nayan Choubey told Aaj Tak, "As a first step, the letter of letter (EOI) with initial information memorandum (PIM) has been approved for the sale of Air Transport Services Limited". After this IATL will be sold after transfer to the Special Purpose Company (SPV). The SPV has already been formed in this regard.

AIATSL company: It is known that AIATSL was formed in June 2003 and in the financial year 2016-17, the company had a profit of Rs 61.66 crore. This company (AIATSL) offers different types of services before the next flight for the landing on the airport.

Recently, Union Minister of State for Civil Aviation Jayant Sinha had said that the government is not taking any decision on disinvestment in Air India at this time, instead of working on the airline's revival plan. After which the Minister's Group has decided to sell in AIATSL on Tuesday. Earlier, it was decided to sell 76 per cent of Air India, but till May 31, no company has been able to open it, after which it was put in the cold storage.

May be the goal is to complete target: The questions are raised in such a way that why the government has decided to subsidize a few crore subsidiaries. It would be interesting to know that the government has set a target of 80000 crore from disinvestment in this financial year but only 16,000 crore can be mobilized. The government is also preparing itself for the issue that there will be questions about the sale of Air India subsidiary. There are many subsidiaries of Air India in which Air India Charters Limited, IAL Airport Services Limited, Airline Allied Services Limited and Hotel Corporation of India Limited Air India Engineering Services Ltd are all in this,but AIATSL is in the best profit giving company.

Q.1 Which Subsidiary company of Air India is going to be sold by Government?
A. IAL Airport Services Limited
B. Air India Airlines Transport Service Limited
C. Hotel Corporation of India Limited
D. Air India Charters Limited
Ans: Air India Airlines Transport Service Limited
Q.2 Who is the Union Minister of Civil Aviation of India during 2018?
A. Praful Patel
B. Rajiv Pratap Roy
C. Ghulam Nabi Azaad
D. Suresh Prabhu
Ans: Suresh Prabhu

Recent Post

Examlover website provide all Latest Current Affairs & Today Current Affairs 2018 for better preparation of UPSC, SSC, Banking, Railway, Defence and all government exams. Daily Current Affairs 2018 news summary on current events of national and international importance for all government competitive examinations. Current affairs preparation for govt. exams, so you can visit here for Current Affairs GK, Today GK, Daily Quiz, Daily GK and Current Affairs Quiz etc. You can also find here all the study material and learning data for One Day Exams, Online Exams and Offline Exams preparation. All types current affairs category here and uncategorized current affairs updates by us day to day related government schemes, publics deals, politics, Sports Science & Technology and miscellaneous news which is very important and useful in all government exams like UPSC, SSC, Banking, Railway, Medical etc.