The ministerial panel on Air India on Tuesday decided to issue expression of interest (EoI) for the sale of the ailing carrier later this month, while it transferred as much as Rs 60,000 crore of debt to a special purpose vehicle to make the sale attractive to bidders.
The group of ministers, under home minister Amit Shah, also approved the share purchase agreement as well as VRS for staff and a debt recast plan, an official said without giving details. The government has already transferred Rs 29,400 crore of the Rs 60,000 crore debt to the SPV.
