The Government of India finally approved the sale of the Pawan Hans Ltd to Star9 Mobility Pvt Ltd. This is the second largest sale in the Government’s aviation sector since the sale of Air India to Tata Group.
Pawan Hans sold to Private players
The sale of the aviation sector has come in forth after three failed attempt to disinvest its Pawan Hans Pvt Ltd stock. This sale will be a three way deal between Big Charter Private Limited, Maharaja Aviation Limited and Almas Global Opportunity Fund SPC.
In January 2022, the Government of India made a major sale to the Tata Group.
At present, Pawan Hans operates 42 helicopters- out of which some are joint ventures of the government and the rest are state owned by Oil and Natural Gas Corp Ltd.
According to reports from Government officials of the Finance Department, “M/S Star9 Mobility Private Ltd, a consortium of M/S Big Charter Private Limited, M/S Maharaja Aviation Private Limited and M/S Almas Global opportunity Fund SPC emerged as the higgest bidder quoting Rs 211.14 crore which was above the Reserve Price.”
The bid was cleared by Finance Minister, Aviation Minister and Road Minister.