LimeLightNews

Govt Considering to Clear Air India’s Dues of Rs 22000 Crore

Sharing is caring!

The government is contemplating clearing Air India’s dues worth Rs 22,000 crore to vendors before putting up the airline for sale.

The government may also mulling to waive off Air India’s entire working capital debt of about Rs. 15,500 crore to enable the national carrier to attract potential buyers. Through these initiatives Air India’s loan burden will be reduced substantially and make it lucrative for potential buyers.

“We are discussing ways to reduce these dues, which the airline owes to oil companies and various airport operators, among others,” a senior government official on condition of anonymity told a leading business daily.

By restructuring the dues and bringing it to the level of the airline’s revenue, we would certainly improve prospects and attract a better deal for the beleaguered airline. The floor price for Air India has not been finalised yet., he added.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: