Air India privatisation: Rs 16,000 crore unpaid bills to go to government’s AIAHL
The Hindu
The AIAHL will also take up 75 per cent of the airline's debt that the Tata Group is not taking over.
The government will transfer about ₹16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said.
Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over.
Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
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