News > Govt to transfer Rs 16,000 cr unpaid bills to SPV before handing over airline to Tatas
Govt to transfer Rs 16,000 cr unpaid bills to SPV before handing over airline to Tatas
The Free Press Journal | 11/10/2021 07:50 PM | Click to read full article
The Tata Group which won the bid for Air India will not have to pay around Rs 16,000 of unpaid fuel bills. The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group.
Air India Assets Holding Ltd (AIAHL) will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over.