hi INDiA Copyright 2020
Tribune News Service
New Delhi, July 22
The government today said the divestment of Air India is not likely to be affected by the legal actions initiated by Cairn and Devas overseas and it is expected that financial bids for 100% sale of government in the national carrier will be received by mid-September.
Minister of State for Civil Aviation Gen (retd) VK Singh said with the disinvestment process, the movable assets are proposed to be transferred to the new owner while immovable assets are being monetised to offset the debt.
Buyer to absorb Rs 23,286.5-crore debt
Of the airline’s total debt of Rs60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs23,286.5 crore, while the rest would be transferred to Air India Assets Holding Ltd, a special purpose vehicle, stated the EoI