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Centre notifies transfer of Air India’s capital assets to SPV ahead of divestment

The move is being seen as a prelude to the national carrier's imminent privatisation.

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New Delhi: The government has notified transfer of sale-bound Air India’s capital assets to Air India Assets Holding Company Ltd (AIAHL), the special purpose vehicle (SPV) created for warehousing part of airline’s loans, four of its subsidiaries, non-core assets, paintings & artifacts and other non-operational assets.

The move is being seen as a prelude to the national carrier’s imminent privatisation.

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A senior Air India official said that the government has now completely stripped the airline of its assets and in case disinvestment does not go through it will have no assets to fall back on.

In its notification effecting the transfer of assets, Central Board of Direct Taxes (CBDT) in a notification said, “This notification shall come into force with effect from April 1, 2022 and shall, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years.”

The last date for the financial bid of Air India is September 15, 2021 and Tata group is being seen as the potential buyer.

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