Business Desk, Amar Ujala, New Delhi
Published by: Dev Kashyap
Updated Thu, 14 Oct 2021 01:21 AM IST
Even after handing over the command of Air India to the Tata group, the government’s share will remain huge. This too has to be paid from the taxpayer’s money only. Debt and arrears payments accounted for the largest amount of money spent on Air India since 2009-10.
hear the news
Market analysts say that the government has so far spent a huge amount to run the airlines. Even after handing over its command to the Tata Group, the government’s share will remain a huge liability. It also has to be paid from the taxpayer’s money only. Debt and arrears paid the largest share of the money spent on Air India since 2009-10. In 2019, the government had put Rs 29,464 crore in it by forming a new company Air India Asset Holding Limited (AIAHL) under the Special Purpose Vehicle (SPV). That is, the buyer of the company will not have to pay this debt, but the government will pay it.
Government will have assets worth Rs 14,718 crore
After the completion of the disinvestment process, the non-core assets of Air India will be left with the government. This would include land, buildings, paintings, hotels, etc. Analysts estimate the total value of this property to be Rs 14,718 crore. In this, the estimated cost of land worth 7-8 thousand crores, buildings worth 3-4 thousand crores, paintings and other items will be Rs 2,000 crores. However, it will be difficult to find a buyer at this price. Apart from this, the government will also have the responsibility of four subsidiaries of Air India, which will be valued at about Rs 1,000 crore. Hence, it will be difficult to find buyers for these properties as well.
where the money will go
|existing debt||46,262 crore|
|vendor dues||15,834 crore|
|September-December deficit||2,661 crore|
|government invested capital||1.10 lakh crore|
|will meet Tata||2,700 crore|
|remaining asset value||14,718 crore|
|total capital spent||1,57,339 crore|