New Delhi: The government is likely to refinance over Rs 20,000 crore of Air India’s Rs 29,000 crore of debt that it has taken over from the national carrier by issuing non-convertible debentures or taking fresh bank loans, a senior airline official said.
The government has transferred Rs 29,000 crore of the airline’s total debt to a special purpose vehicle, Air India Asset Holdings Ltd. (AIAHL), and issued NCDs for about Rs 7,400 crore. “The government can look at refinancing the rest of the amount through NCDs or fresh loans from banks, which will help them reduce the cost of these borrowings,” said a senior Air India official who did not want to be identified.
ET first reported on plans to lighten Air India’s debt burden by issuing NCDs on January 21.
13/02/19 Economic Times
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The government has transferred Rs 29,000 crore of the airline’s total debt to a special purpose vehicle, Air India Asset Holdings Ltd. (AIAHL), and issued NCDs for about Rs 7,400 crore. “The government can look at refinancing the rest of the amount through NCDs or fresh loans from banks, which will help them reduce the cost of these borrowings,” said a senior Air India official who did not want to be identified.
ET first reported on plans to lighten Air India’s debt burden by issuing NCDs on January 21.
13/02/19 Economic Times
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