Govt to clear Rs 16,000 crore bills of Air India
NEW DELHI: The government on Monday issued Letter of Intent to Air India and clarified that it would clear about Rs 16,000 crore of unpaid fuel bills and other dues that Air India owes to suppliers and vendors before handing over the loss-making airline to the Tata Group.
“LoI issued to the successful bidder in the strategic disinvestment transaction of AI. share-purchase agreement will be signed soon,” Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management — the department running the privatization programme — said in a tweet on Monday.
