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.
Support Ethical Journalism. Support The Dispatch
The Dispatch is a sincere effort in ethical journalism. Truth, Accuracy, Independence, Fairness, Impartiality, Humanity and Accountability are key elements of our editorial policy. But we are still not able to generate great stories, because we don’t have adequate resources. As more and more media falls into corporate and political control, informed citizens across the world are funding independent journalism initiatives. Here is your chance to support your local media startup and help independent journalism survive. Click the link below to make a payment of your choice and be a stakeholder in public spirited journalism