Centre sold helicopter provider Pawan Hans, for 211 crores

Govt sold Pawan hans for 211 crore

NewDelhi: Pawan Hans, the only government helicopter service Provider Company, infamous for the many helicopter accidents in the country, has now been sold by the Modi Government. The Central Government has sold Pawan Hans Limited to Star-9 Mobility Private Limited Company for Rs 211.14 crore. Since then Pawan Hans is in news.

Pawan Hans Company went into private hands due to a financial crisis.

The Central Government has decided to sell Pawan Hans Limited. Behind the sale of the helicopter company Pawan Hans Limited, the government says that the company is constantly facing a serious financial crisis. The government has sold Pawan Hans for these 3 reasons-

Read more: Empowered group approves sale of Pawan Hans to Star 9 at Rs 211cr

The company, which is more than three decades old, had a loss of about Rs 69 crore in the financial year 2018-19.

After this, in the year 2019-20 also, the company had to bear a loss of about 28 crores.

The Cabinet Committee of Economic Affairs (CCEA) has tried to sell it 3 times, but at that time no investor showed interest in buying it. Due to this, the government has decided to sell its stake in this company.

Pawan Hans company also has a debt of Rs 230 crore.

Before the sale of Pawan Hans, the government had also made a plan to recover the company from losses. The Modi government wanted to improve the service by increasing the number of Pawan Hans helicopters, but the government failed to do so. Apart from providing helicopter service, this company also operates programs like training and skill development and business development.

All the political parties had booked helicopters for the assembly elections of five states held in the year 2018 and the Lok Sabha elections in 2019, but here too due to the failures of the company's management, they were disappointed and the private companies won. Also, the company currently has a debt of Rs 230 crore.

What is the name of the buying company and how old is this company?

According to the report of The Print, the government has handed over Pawan Hans Limited to Star-9 Mobility Company. Know these 4 special things related to Star-9 Mobility Company

Star-9 Mobility Company was formed only 6 months back. This company was registered on 29 October 2021 in Mumbai.

Star-9 Mobility Company bought Pawan Hans Limited by paying only 11 crores more.

Star-9 Mobility is a company comprising Big Charter Pvt Ltd, Maharaja Aviation Pvt Ltd, and Almas Global Opportunity Fund SPC.

The government was expected to get at least Rs 500 crore for its 51 percent stake, but the government kept the base price of the sale at only Rs 199.92 crore.

Why is Pawan Hans so infamous for the helicopter accident?

From the point of view of safety, the record of the Pawan Hans helicopter has not been good. This Pawan Hans helicopter, which has been serving in the country for almost three and a half decades, has also been infamous due to the accident. Pawan Hans Limited Company describes security as an important part of its flight operations on its website. However, from the very beginning, engine problems, oil leakage, and sensor problems were associated with the company.

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