Friday, September 10, 2021

Air India's total debt rises to nearly 43,000 crore

The total debt of national carrier Air India has risen to around 43,000 crore, officials aware of the matter told CNBC-TV18.

As per the preliminary information memorandum, the total debt of Air India stood at Rs 58,282.9 crore as of March 2019. However, the Cabinet had given post-facto approval in Feb 2019 for the creation of SPV namely Air India Assets Holding Ltd (AIAHL). They had decided to transfer the debt of Air India Ltd amounting to Rs. 29,464 crores to the SPV.

“As of now, the total debt is around Rs 43,000. This is after the transfer of Rs 29, 464 crores to the SPV,” a person aware of the matter said, adding that more than 90 percent of the total debt is government-guaranteed.

In Feb 2021, the civil aviation ministry had informed Rajya Sabha the total debt of national carrier Air India as per provisional figures of 2019-20 (Apr-Mar) was Rs 38,366.39 crore after transfer of debt amounting to Rs 22,064 crore to the SPV.

10/09/21 CNBC TV18

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