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Govt, VVIPs owe Air India Rs 498 crore

Source: ANI   -  Edited By: Roshneesh Kmaneck
February 05, 2021 14:50 IST
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Air India is yet to receive Rs 498.17 crore from several government departments, including the due from various VVIP operations, the Government of India 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 Lok Sabha. 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 2019-20 Rs 7,982.83 (provisional)," the government informed Parliament.

The Government has decided to sale 100 per cent of the stake of Air India and its process started.

"The Preliminary Information Memorandum for inviting Expression of Interest 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.

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Source: ANI  -  Edited By: Roshneesh Kmaneck
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