Tuesday, October 15, 2019

Gov't raises fresh $1bn in bonds to repay Air India's debt

Air India Assets Holding Ltd (AIAHL), a special purpose vehicle created by the Indian government to hive off a part of Air India's massive debt, raised another INR70 billion rupees (USD986 million) through bonds.

The Economic Times has reported that the bonds issue was oversubscribed with bids totalling more than INR210 billion (USD2.96 billion). It was already the second tranche of INR70 billion worth of bonds.

In total, the government decided to transfer INR295 billion (USD4.2 billion) debt from Air India to AIAHL, together with the carrier's non-core assets, mostly real estate. The amount is less than half of the airline's total debt.
14/10/19 ch-aviation
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