NEW DELHI: After receiving interest for Air India, Centre now plans to invite bids for the national carrier's ground handling company - Air India Airport Services - within two months

 Accordingly, the Expression of interest (EoI) will be issued soon within the next two months, Civil Aviation Secretary Pradeep Singh Kharola told. The entities has been transferred to a Special Purpose Vehicle (Air India Assets Holding)  as Air India has already been put on block to be divested.

Notably, the national carrier's wholly-owned subsidiary is a profitable venture. It is engaged in ground handling services which are offered to other airlines as well. In terms of financials, AIAPS is a debt-free company and has been a profitable venture since the first year of its autonomous operations in 2014-15.

According to the company's annual report, its FY19 net profit had risen to Rs 63.81 crore from Rs 53.84 crore reported for FY18. Similarly, the total revenue grew to Rs 707.16 crore from Rs 669.26 crore (restated) during 2017-18. In 2018-19, the process of strategic sale was initiated with the appointment of a transaction advisor and issuance of Preliminary Information Memorandum. However, the Centre's earlier attempts to divest close to 100 percent stake in the company did not elicit healthy response. The company was formed with an aim to provide unified ground handling services.

Fly High: IndiGo to start operations to Durgapur from April

Vistara begins non-stop flights on Delhi-Frankfurt route

India plans to have sustained human presence in space through Gaganyaan mission