{"id":261994,"date":"2019-03-01T07:07:29","date_gmt":"2019-03-01T07:07:29","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=261994"},"modified":"2019-03-01T07:07:29","modified_gmt":"2019-03-01T07:07:29","slug":"preparing-for-divestment-govt-transfers-rs-30000-crore-of-air-india-debt-to-a-spv","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/preparing-for-divestment-govt-transfers-rs-30000-crore-of-air-india-debt-to-a-spv\/","title":{"rendered":"Preparing for divestment: Govt transfers Rs 30,000 crore of Air India debt to a SPV"},"content":{"rendered":"<p>NEW DELHI: Paving the way for Air India\u2019s divestment by the next government, the Union Cabinet Thursday cleared the creation of a special purpose vehicle (SPV) to which Rs 29,464 crore of AI\u2019s debt will be transferred to along with some assets of the airline. A government statement said the AI will transfer its subsidiaries to the SPV \u2014 AI Air Transport Services Ltd (AIATSL), AI Engineering Services Ltd (AIESL) and Airline Allied Services Ltd (AASL)\u2014 along with the airline\u2019s non-core and non-operational assets, paintings and artefacts.<br \/>\nThe plan is that the SPV will sell off these assets and write off the acquired loan. AI has a loan of over Rs 55,000 crore. Transferring half of the loan will reduce AI\u2019s debt servicing.<br \/>\nThe airline\u2019s current annual debt servicing is about Rs 4,500 crore and transferring the debt will mean significant relief to AI.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Paving the way for Air India\u2019s divestment by the next government, the Union Cabinet Thursday cleared the creation of a special purpose vehicle (SPV) to which Rs 29,464 crore of AI\u2019s debt will be transferred to along with some assets of the airline. A government statement said the AI will transfer its subsidiaries to the SPV \u2014 AI Air Transport Services Ltd (AIATSL), AI Engineering Services Ltd (AIESL) and Airline Allied Services Ltd (AASL)\u2014 along with the airline\u2019s non-core and non-operational assets, paintings and artefacts. The plan is that the SPV will sell off these assets and write [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-261994","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=261994"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/261994\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=261994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=261994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=261994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}