NEW DELHI: To clean up its gigantic debt book, Air India Assets Holding Ltd (AIAHL), a special purpose vehicle (SPV) on Monday raised Rs 7,000 crore through issuance of bonds.
A little over half of the airline’s total debt of more than Rs 58,000 crore will be transferred to this SPV and would be serviced by raising money through bonds.
The current raising of Rs 7,000 crore will be followed by another bond issue for Rs 15,064 crore later this month. The remaining debt of Rs 7,400 crore will be transferred, a senior Air India (AI) official said. The SPV is created to take on Rs 29,464 crore of the airline’s massive debt.
