NEW DELHI: As a precursor to sale of Air India, the Cabinet Thursday approved setting up of a special purpose vehicle — Air India Assets Holding– to transfer ₹29,464 crore worth loans of the national carrier and its four subsidiaries.
“The Union Cabinet has given ex-post facto approval for the creation of the SPV and associated activities for the disinvestment of Air India and its subsidiaries or JV,” an official statement said.
The four subsidiaries which have been transferred to the SPV are Air India Air Transport Services (AIATSL), Airline Allied Services (AASL), Air India Engineering Services Ltd (AIESL) and Hotel Corporation of India (HCI).
