Air India's debt of Rs 62,000 crore will be paid from taxpayers' money

New Delhi: The country's taxpayers will have to pay Rs 2,000 crore to pay off Air India's debt and other liabilities, according to a supplementary demand of Rs 2.50 lakh crore tabled in Parliament.

The government has sought Parliamentary approval to inject Rs 2,000 crore into its own company, which has Air India's debt, liabilities and some non-essential assets.

The government has set up a company to facilitate the privatization of Air India and clean up its balance sheets.

The government had earlier claimed that after the privatization of Air India, the government would have a net liability of Rs 3 crore. However, the government has asked for an additional Rs 2,107 crore to offset the liability of Air India for this claim.

The supplementary demand was made for payment of interest liability on Air India's loan, lease rent, arrears to be paid by oil companies, fees of Airports Authority of India, etc., government sources said.

Air India will get a foreign CEO

In January 208, Air India will officially take over the reins of Tata Sons. Tata Sons has shortlisted foreign CEOs to lead Air India before the acquisition. The company has also decided on the names of some of the members for the reconstitution of the board of Air India.

According to the report, Tata Sons will make an official announcement in January 2018. The new CEO will be responsible for finalizing the management team of Air India.