New Delhi: Union Home Minister Amit Shah’s priority will be to sell India’s major company, Air India, after fully recovering. It tops the agenda of Prime Minister Narendra Modi and is among 26 PSUs sold before 31 March next year. Amit Shah is the chairman of the selling group of ministers (GoM), which was held by Air India, BPCL before March 31. And will sell other undertakings.
Selling Air India is an important task for Civil Aviation Minister Hardeep Singh Puri. The Tata group is somewhat of an opinion on the purchase, as it already operates Air Asia and Vistara and is a CEO. N. Chandrasekaran is not keen to invest much money in this business.
Now the government is making another concession; It can waive the entire working capital loan of the airline up to about Rs 15,500 crore. This will reduce the debt burden for prospective buyers by about Rs 20,000 crore. The government is expected to pay arrears of Rs 22,000 crore to vendors such as airline vendors and oil companies before the sale of Air India. The government had earlier taken a loan of Rs 29,400 crore for Air India. Air India’s total debt is around Rs 60,000 crore, of which the company itself has taken a loan of about Rs 30,600 crore. Now out of this, the government has reduced the debt liability further.
Air India’s other liabilities amount to Rs 22,000 crore including Rs 12,500 crore loan against the aircraft, Rs 5,500 crore for Airbus aircraft by 2030-31 and Rs 7,000 crore for 6 Boeing 787 Dreamliners. The bridge loan of Rs 7,000 crore will be paid through sale and lease or lump-sum purchase. Two Gulf countries have shown interest in procurement due to cordial relations with Prime Minister Narendra Modi. PSU to bridge 8 per cent budget deficit during Government 2020-21, It is keen to get at least two lakh crore rupees from the sale of.