Saturday, October 19, 2019

Air India divestment: Govt works on debt, staff, litigation issues

New Delhi: The nitty gritty of Air India (AI) divestment is now being worked out in top gear. Aviation secretary PS Kharola had a meeting with AI chairman Ashwani Lohani and officials from department of investment and public asset management (Dipam) on Friday to take a call on how various key issues like those related to accounts, litigation and employees should be worked out.

Officials did not comment on if any decision was taken on these issues. "This is work in fast progress. We are discussing everything threadbare and will take a call at the right time in the best interest of everyone," said a person in the know.

The finance part of this meeting's agenda included issues like finalising audited accounts of AI and subsidiaries as this will be a part of the expression of interest (Eol); preparing business plan projecting the profit, loss, balance sheet and cash flow as per management estimates.

This will be used for debt servicing analysis and as input for reserve price determination. The crucial issue of quantum of debt and subsidiaries to be transferred to SPV Air India Assets Holding (AIAHL) and technical audit of assets was discussed.
19/10/19 Times of India
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