The government has settled over Rs 61,000 crore of Air India’s legacy debt and other liabilities that were left in AIAHL — the company holding residual assets and liabilities of the airline — ahead of the transfer of the national carrier to the Tata Group, a top official said on Thursday.
The airline had a total debt of Rs 61,562 crore as of August 31, 2021. Of this, the Tata Group took over Rs 15,300 crore and the rest 75 per cent or around Rs 46,000 crore was transferred to a special purpose vehicle, AI Asset Holding Ltd (AIAHL).
AIAHL also held Air India’s non-core assets such as a stake in Hotel Corp of India (HCIL), paintings and artefacts and immovable properties.
