'AI's ₹61K-cr debt, excess liabilities settled'

As the government handed over Air India to Tata Sons on Thursday, Department of Investment and Public Asset Management (DIPAM) Secretary TUHIN KANTA PANDEY said the Centre has settled over ₹61,000 crore worth of debt and excess liabilities of the national carrier. In an interview with Nikunj Ohri, he said the Tatas have also paid off the retained debt of ₹15,300 crore through refinancing.

On LIC, Pandey said the government plans to list the insurance behemoth in the ongoing financial year.

Edited excerpts:

By when will the debt of Air India, transferred to Air India Asset Holding Company (AIAHL), be settled?

Current liabilities in excess of current assets of Air India have been broadly settled by AIAHL through support from the government.

AIAHL has paid off about ₹46,000 crore of Air India's debt and settled about ₹15,000 crore of excess liabilities, that included unpaid fuel bills and payment to other operational creditors.

Broadly, most of the liabilities coming to AIAHL have been squared off through budgetary sources.