AI Share Increases in Joint Venture

Minister of State for Civil Aviation, Dr Mahesh Sharma informed the Lok Sabha today that the joint venture with Singapore Airport Terminal Service (SATS) has been profitable for Air India. AISATS has declared dividend of 15% i.e. Rs.6 crores each year, during the previous two financial years. Also, the net worth of the joint venture as on 31st March,2014 stands at Rs.196.25 crores and Air India's share, as 50% partner in the venture, has increased to Rs.98.12 crores.

Air India has set up a Joint Venture with Singapore Airport Terminal Service named as AISATS Airport Services Pvt. Ltd, for ground handling with the approval of Cabinet. As international experience in ground handling was one of qualifying criteria for selection of ground handler at green field airports, Air India decided to partner with SATS and entered into a joint venture.