Centre allows sale of Air India arm to clear debt

A ministerial panel headed by Finance Minister Arun Jaitley on Tuesday decided to sell Air India's ground handling arm to clear off some of its 55000 crore debt. The panel has decided to sell 100 per cent of Air India Air Transport Services Limited to a special purpose vehicle also owned by the government. Government is aiming to make this sale within this fiscal year to generate investor interest in the embattled airliner.