Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Air India yet to receive Rs 498 cr from govt departments, including VVIP operations: GoI

Air India yet to receive Rs 498 cr from govt departments, including VVIP operations: GoI

Photo Credit :

New Delhi [India], February 5 (ANI): The National Carrier Air India is yet to receive Rs 498.17 crores from several government departments, including the due from various VVIP operations, the Government of India (GoI) said.
"As on 31.12.2020, the total Air India dues against various Government Departments on account of airfare including dues towards VVIP Operations were Rs 498.17 crore," the GoI said in a written reply in Loksabha.
Usually, the credit period for Government of India Departments varies from 15 to 30 days from the receipt of invoice and no interest is paid to Air India in case of non-payment within the credit period.
Currently, Air India is the loss-making airline and its debt is huge as per the available data, "The total Net Loss (after tax) of Air India Ltd since Finance Year Financial Year 2019-20 Rs 7,982.83 (Provisional)," the government informed in parliament.
Government has decided to sale 100 per cent of the stake of Air India and its process started. "The Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EOI) for strategic disinvestment of 100 per cent stake of Government of India in Air India along with 100 per cent stake in Air India Express Ltd and 50 per cent stake in Air India SATS was issued on 27.01.2020," GoI said.
The total Net Fixed Assets of Air India Ltd. as on 31.03.2020 (Provisional) are Rs 45,863.27 crore. These include land and buildings, aircraft fleet and engines, other fixed assets, Right of Use assets and intangible assets.
The enterprise value set for bidding has not been determined so far. (ANI)

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


ANI

ANI

More From The Author >>