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Airbus Mulls Bidding For Majority Stake In Pawan Hans As Government Attempts Full Exit From Chopper Firm
Pawan Hans helicopter (Wikimedia commons)
Aviation giant Airbus is currently evaluating the Indian government’s strategic divestment plan for Pawan Hans, under which it seeks to offload the entire 51 per cent equity it currently holds in the state-run helicopter services firm, Cogenics has reported.
Recently the government had made a fresh attempt to exit from Pawan Hans and invited bids from companies with a minimum net worth of Rs 350 crore. This is the third such attempt made by the government in the past 16 months.
As part of the Preliminary Information Memorandum (PIM) issued by the government, management control of the chopper firm would be passed on to the successful bidder.
ONGC which holds the remaining 49 per cent stake in Pawan Hans has also indicated its interest in selling its equity and firms have an option of placing a bid for it as well.
“All I can say that we are evaluating it (Pawan Hans divestment). Whether we bid for it or not, I will not be able to disclose”, an Airbus official when asked about the firm’s interest in Pawan Hans.
Pawan Hans which posted a loss of Rs 72.42 crore in FY19, currently owns a fleet of 43 helicopters out of which 33 are Airbus made.
Recently, Pawan Hans had signed an Memorandum of Understanding (MoU) with Airbus for the maintenance and overhaul of its 31 Dauphin helicopters manufactured by Airbus. The MoU also includes the cooperation between the two parties in inducting H145 and H225 multi-rotor helicopters.
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