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Oil Companies, Banks Could be the Primary Victim of Air-India Sale
June 15, 2017
As the finance ministry and civil aviation ministry are in talks with banks and oil companies to get haircuts for the Indian Carrier Air-India’s debt, they may have to face a huge loss.
A recent report says that the ministries are trying to get haircuts for Air India’s debt from banks while talking to the oil companies at the same time to get debt reduction. It also said that the government is mulling over absorbing a portion of the debt so as to increase the chances of finding a good buyer. However, the Cabinet will take the final call on the fate of Air India.
