RBSA Advisors is said to have been appointed as Valuation Advisors for the equity divestment of Air India and its subsidiaries. Currently, the government holds 100% equity in AI. The Airline has five subsidiaries and a joint venture (JV) company, which include Air India Express Limited (AIEL), Air India Air Transport Service Limited (AIATSL), Air India Engineering Services Limited (AIESL), Airline Allied Service Ltd (AASL), Hotel Corporation of India (HCI) and JV with AI/Singapore Air Transport Services. The government intends to sell Air India and its subsidiaries separately to maximise its earnings from the sale process.