BUSINESS NEWS

Air India disinvestment: Air India may go to Tata next week itself: Air India may go to Tata next week itself

Written by admin

Air India disinvestment: Air India may go to Tata next week itself: Air India may go to Tata next week itself

Highlights

  • Air India may belong to Tata Sons before Diwali
  • The government wants to hand over this company to Tata as soon as possible.
  • At present, there is a loss of 20 crores every day in running Air India.

New Delhi
Government company Air India, which is in debt debt-ridden, can go to Tata Sons’ bag within the next 10 days. In fact, the government is facing a loss of Rs 20 crore every day to run it. Therefore, the government wants that the process of handing it over to Tata should be completed as soon as possible. Significantly, in the Air India disinvestment process, Tata Sons has been declared the winner.

News agency PTI has given this news quoting Union Civil Aviation Secretary Rajiv Bansal. Bansal said on Thursday that the process of disinvestment of Air India can be completed in the next 10 days. Till then only necessary revenue and capital expenditure should be made in Air India. Bansal is also the Chairman and Managing Director of Air India.

Ministry removed order
He said in an order that the process of disinvestment of the airline is in its final stages and a letter of intent has already been issued to the Tata group. Earlier, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which runs the government’s privatization programme, had told that at present, Air India has to incur a loss of Rs 20 crore every day.

See also  Sri Lanka seeks $500 million loan from India for fuel purchase amid forex crisis

Also read: Petrol Diesel Price: There is no relief even on the day of Dussehra, the price of petrol and diesel in Ranchi is almost equal

Deadline is till December
After Tata Sons was declared the winner in the Air India disinvestment process, the government had said that the transfer of this state-owned company would be done by next December. Sources related to the government say that when the company has to be handed over, then what is the point of incurring a loss of Rs 20 crore every day. Therefore, the government wants to hand over the management of Air India to Tata as soon as possible.

Total outstanding is more than Rs 61 thousand crore
The total outstanding on Air India as on August 31 was Rs 61,562 crore. Of this, Tata Sons’ holding company Tales Pvt Ltd will take responsibility of Rs 15,300 crore and the remaining Rs 46,262 crore will be transferred to AIAHL.

Tata Acquires Air India: Tata Group got the command of Air India, what did Jyotiraditya Scindia say?

#Air #India #disinvestment #Air #India #Tata #week #Air #India #Tata #week

About the author

admin

Leave a Comment

close
%d bloggers like this: