Air India is spinning off its engineering division into a separate company and aims to sell a 49% stake in the business to a strategic partner.
The new firm will be called Air India Engineering Services and is the second division to be hived off by the Indian flag carrier. Air India's ground services division has already been spun off to form Air India Air Transport Service. Air India also intends to set up a firm called Air India Express for its low-cost operations.
Source: Flight International