The Finance Ministry says, Air India disinvestment is at a concluding stage.
- ByStartupStory | November 30, 2021
Bhagwat Krishnarao Karad, Minister of state for finance informed the Parliament that the Department of Investment and Public Asset Management is processing disinvestment of 17 state-owned enterprises in which the disinvestment of Air India and Air India Express Ltd. is at its concluding stage.
The airline that procured a total debt of Rs61,562 as of August 31, since its nationalisation by the then Indian Government, is being sold back to Tata Sons almost after 67 years. The government sold its 100% stake in Air India to the Tata group.
Talace Pvt Ltd of Tata Sons emerged as the winning bidder for Air India at Rs 18,000 crore. Around Rs 46,262 crore debt of the state-owned airline will be transferred to Air India Assets Holding Limited (AIAHL), while 15 percent of the total debt of Rs 61,562 crore will be retained by Tatas. The government will receive about Rs 2700 Crore cash from the Tatas and the Tatas will take a debt over Rs 15,300 crore debt, after the sale.
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