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Government Will Pay 16000 Crores Fuel Bill Of Air India Center Will Work Before Handing Over To Tata Group

Agency, New Delhi

Published by: Dev Kashyap
Updated Tue, 12 Oct 2021 01:16 AM IST

Summary

Air India Assets Holding Limited (AIAHL), which handles non-core assets such as land and buildings of the airline, will also have 75 per cent debt of the airline, which is not being taken by the Tata group.

Before handing over the airline to the Tata group, the government will clear its fuel bills and dues of around Rs 16,000 crore to its suppliers. A senior official said that the government will transfer this amount to a special purpose unit.

Air India Assets Holding Limited (AIAHL), which handles non-core assets like land and buildings of the airline, will also have 75 per cent debt of the airline, which is not being taken by the Tata group.

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said that apart from the debt, AIAHL will also have additional liabilities. These include dues from oil companies, airport operators and vendors. Therefore, the government will work on the books of Air India for the remaining four months (September-December) before handing it over to the Tata group.

The remaining liabilities will be transferred to AIAHL. Air India had a total outstanding of Rs 61,562 crore as of August 31. Tata Sons will take the responsibility of Rs 15,300 crore and the rest Rs 46,262 crore will be transferred to AIAHL. Non-core assets of the airline will also be transferred to AIAHL, valued at Rs 14,718 crore.

Expansion

Before handing over the airline to the Tata group, the government will clear its fuel bills and dues of around Rs 16,000 crore to its suppliers. A senior official said that the government will transfer this amount to a special purpose unit.

Air India Assets Holding Limited (AIAHL), which handles non-core assets like land and buildings of the airline, will also have 75 per cent debt of the airline, which is not being taken by the Tata group.

Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said that apart from the debt, AIAHL will also have additional liabilities. These include dues from oil companies, airport operators and vendors. Therefore, the government will work on the books of Air India for the remaining four months (September-December) before handing it over to the Tata group.

The remaining liabilities will be transferred to AIAHL. Air India had a total outstanding of Rs 61,562 crore as of August 31. Tata Sons will take the responsibility of Rs 15,300 crore and the rest Rs 46,262 crore will be transferred to AIAHL. Non-core assets of the airline will also be transferred to AIAHL, valued at Rs 14,718 crore.

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