Govt approves plan to cut Air India's â¹55,000 crore debt by half
The government has cleared a plan to transfer about â¹29,000 crore of Air India's â¹55,000 crore debt to a Special Purpose Vehicle (SPV). After the transfer, the national carrier's annual interest burden will come down from around â¹4,400 crore to about â¹1,700 crore. A ministerial panel recently decided to sell Air India's ground handling arm Air India Air Transport Services.