United Kingdom
United States
Asia Pacific
Government mulls waiving debts to sweeten Air India sale
The Indian government seems to be finally getting the message over its stalled plan to sell off Air India.
It is mulling waiving the condition that any winning bid for Air India takes on about $3.3 billion of its debt.
According to people with knowledge of the matter, government officials may drop the condition of absorbing the debt, which has been the main barrier to a deal in two long-drawn out attempts to sell the airline.
Bloomberg reports advisors have urged the government to drop the condition as it has deterred serious bids.
Instead, bids should be based on the airline’s enterprise value, sources say.
The government had already sweetened the deal by shifting nearly two-thirds of Air India’s debt into a separate business entity but the remaining $3.3 billion is still a deal-breaker.
Before the pandemic the airline owed nearly $8.5 billion, and hasn’t turned a profit for more than a decade.
However, it does have some valuable assets such as a large fleet of aircraft and lucrative slots at London Heathrow and other airports
Written by Ray Montgomery, Asia Pacific editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel