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Friday, 30 November 2018

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Air India debts to be transferred to a SPV

Air India debts to be transferred to a SPV




The national airline Air India, which is currently under huge debt will transfer its debt worth Rs 29,000 crore to a special purpose vehicle (SPV). A senior government official gave this information on Thursday.

Air India has a debt of about Rs 55,000 crore. Efforts are being made to reduce the revival and interest of the airline. A senior official of Civil Aviation Ministry said that the debt of Rs 29,000 crore will be transferred to the SPV. An SPV has been formed. This step will help reduce the airline's financial burden. However, Air India Assets Holding Ltd. (AIAHL) has to get the approval of the lenders before transferring the loan.

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