Cairn suit won’t hit AI sale: Minister

Financial bids likely to be received by September 15

Cairn suit won’t hit AI sale: Minister

Tribune News Service

New Delhi, July 22

The government today said the divestment of Air India is not likely to be affected by the legal actions initiated by Cairn and Devas overseas and it is expected that financial bids for 100% sale of government in the national carrier will be received by mid-September.

Minister of State for Civil Aviation Gen (retd) VK Singh said with the disinvestment process, the movable assets are proposed to be transferred to the new owner while immovable assets are being monetised to offset the debt.

Buyer to absorb Rs 23,286.5-crore debt

Of the airline’s total debt of Rs60,074 crore as of March 31, 2019, the buyer would be required to absorb Rs23,286.5 crore, while the rest would be transferred to Air India Assets Holding Ltd, a special purpose vehicle, stated the EoI

Tribune Shorts


Top Stories

Jamnagar man found infected with Omicron variant of coronavirus after returning from Zimbabwe

Covid-19: India's 4th Omicron case detected in Maharashtra

33-year-old man from Kalyan Dombivli municipal area near Mum...

Samyukta Kisan Morcha meeting underway to decide future course of agitation

Farmers’ protest: SKM forms 5-member panel for talks with govt, wants written assurance on pending demands

Balbir Singh Rajewal, Ashok Dhawle, Shiv Kumar Kakka, Gurnam...

Himachal Pradesh becomes first fully Covid-19 vaccinated state: Govt

Himachal Pradesh becomes first fully Covid-19 vaccinated state: Govt

As many as 53,86,393 eligible adults have been administered ...

BJP in talks with Capt Amarinder, Sukhdev Dhindsa for alliance in Punjab: Amit Shah

BJP in talks with Capt Amarinder, Sukhdev Dhindsa for alliance in Punjab: Amit Shah

Assembly elections in Punjab and Uttar Pradesh will be held ...

Veteran journalist Vinod Dua dies at 67

Veteran journalist Vinod Dua dies at 67

Dua was a Hindi broadcast journalism pioneer with stints in ...

Cities

View All