Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt
The government is likely to transfer about Rs 20,000 crore of additional debt from Air India’s books in order to make it lucrative for buyers. The move will leave Air India with about Rs 10,000 crore of debt.
This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year’s failed disinvestment process. Potential bidders had expressed inability to take over the debt-laden airline.
As of March 31, Air India had a debt of Rs 58,351 crore.
While the Air India Alternative Special Mechanism (AIASM) headed by home minister Amit Shah is yet to take call on it, it has been proposed to the ministerial group that the move is necessary to make it attractive for buyers.
