Air India’s general debt stands at over Rs 60,000 crore (Document)

Tata Sons regained keep an eye on of Air India – just about 70 years after its nationalisation – with the federal government selecting up the salt-to-software conglomerate because the successful bidder for the debt-laden state-run airline.

This is your 5-point cheatsheet to this large tale:

  1. Tata Sons will gain Air India, 50 according to cent of Air India-Sats, and Air India Specific. The federal government gets Rs 2,700 crore in money from the Air India sale. The remainder is the federal government’s debt, which Air India will take over.

  2. The transaction does no longer come with non-core property together with land and development, valued at Rs 14,718 crore, which might be to be transferred to the federal government’s conserving corporate AIAHL.

  3. Air India’s general debt stands at over Rs 60,000 crore.

  4. Air India staff will probably be given voluntary retirement scheme or VRS in the second one yr and there will probably be retrenchment within the first yr.

  5. The deal completes a complete circle as Air India used to be based in 1932 beneath the identify Tata Airways by means of circle of relatives scion and aviation fanatic Jehangir Ratanji Dadabhoy Tata.

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