The board of directors of Air India is meeting on Monday to finalise a plan to prepay debt worth Rs 12,900 crore to the lenders. The loans were raised by the airline as non-convertible debentures and will be prepaid as part of the government's sale of the airline to the Tata group.
A banking source said the airline was paying very high interest of 9.05-10.05 per cent on the NCDs. As per the plan, the NCDs are expected to be prepaid by the Indian government through Air India Asset Holdings Pvt Ltd (AIAHL) before the Tatas takes over the airline next month.
Air India had debt of Rs 62,361 crore as on March 2020. Of this, Air India will be transferring debt worth Rs 46,262 crore to the government-owned entity, AIAHL. The Tata group had agreed to take over Air India at an enterprise valuation of Rs 18,000 crore. Of this, the Tata group will take over Air India's debt worth Rs 15,300 crore and pay Rs 2,700 crore to the Ind
Air India had debt of Rs 62,361 crore as on March 2020. Of this, Air India will be transferring debt worth Rs 46,262 crore to the government-owned entity, AIAHL. The Tata group had agreed to take over Air India at an enterprise valuation of Rs 18,000 crore. Of this, the Tata group will take over Air India's debt worth Rs 15,300 crore and pay Rs 2,700 crore to the Ind
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