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

Rajnath Singh likely to brief Parliament on chopper crash today

IAF has ordered tri-service investigation into chopper crash, Rajnath Singh tells Parliament

The chopper took off from Sulur Air Base at 11.48 am; Air Tr...

Data recorder of crashed M 17 helicopter recovered

Data recorder of crashed helicopter recovered

A 25 special team of the Air Force officers led by Wing Comm...

Bodies of Gen Bipin Rawat, wife and 3 others identified

Bodies of Gen Bipin Rawat, wife and 3 others identified

The three other bodies were of Brigadier LS Lidder and two p...

Shaurya Chakra awardee Varun Singh survives one night, next 48 hours critical

Shaurya Chakra awardee Varun Singh survives one night; next 48 hours critical

The team of doctors treating Singh are not saying anything

Rajya Sabha pays tributes to Gen Rawat, 12 others

Rajya Sabha pays tributes to Gen Rawat, 12 others

Gen Rawat will always be remembered for his commitment to th...

Cities

View All