Modi govt to sell Air India's ground handling subsidiary AIATSL

A ministerial panel Tuesday cleared a proposal for strategic sale of Air India's ground handling subsidiary AIATSL, an official said. The approval comes amid the government working on ways to revive the fortunes of Air India -- estimated to have debt burden of more than Rs 50,000 crore --, including sale of non-core assets. The decision was taken after the panel which is headed by Finance Minister Arun Jaitley met here. It assumes significance as the amount raised from the divestment of AIATSL will be used to retire some of the accumulated debt of Air India.