Air India (AI, Delhi International) is seeking investors for its fully-owned subsidiary Alliance Air (India) (9I, Delhi International), a regional specialist flying under the Air India Regional brand on domestic routes, the First Post has reported.
According to the ch-aviation fleets module, Alliance Air operates exclusively ATR - Avions de Transport Régional turboprops, including two ATR42-300s and fifteen ATR72-600s.
Loss-making Alliance Air is one of four subsidiaries the Indian flag carrier is trying to sell to get a much-needed cash injection. The other ones include Hotel Corporation of India, ground and cargo handling agent Air India Air Transport Services Ltd, and MRO operator Air India Engineering Services Ltd.
Separately, Air India is trying to sell many of its real estate holdings, including the former headquarters in Mumbai.
The carrier currently has a net debt of some INR55 billion rupees (USD765 million).
The government of India is currently working on a new turnaround plan for Air India. According to the Indian Express, the programme would focus on fundamental organisational changes and might include appointing an independent board to run the carrier. According to the government officials, the restructuring would enable privatisation of the airline in the long-term.
