| Will Air India find a buyer? The answer is worth at least Rs 33,000 crore | | | Agencies
Air India's buyer will have to take on at least a mammoth Rs 33,392 crore or close to 70% of the beleaguered carrier's debt on its books, a clause that negates industrywide assumptions that the government would write off a significant portion of the airline’s loans, and makes it a far less attractive investment than had been expected.
.it is expected that debt and liabilities including net current liabilities of Rs 8,816 crore aggregating to Rs 33,392 crore will remain with Air India and Air India Express. (no change for AI-SATS except in normal course of business).This number shall be further adjusted to account for material business developments post 31st March, 2017 for instance purchases/delivery of aircrafts etc. The balance debt shall be allocated to Air India Asset Holding Limited which is 100% owned by the Government of India subject to receipt of requisite approvals from lenders and regulators, as applicable,” said the government document calling for expressions of interest (EOI) from interested bidders for the airline.
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