Air India gets ready to check out, adds up leave encashment liability

Air India is preparing for divestment and for a new owner taking over the airline by the end of this fiscal.
A TOI report says the government has asked the airline to finalise its H1 FY 20121-22 accounts “on a priority basis”. Employees have been asked to update their leave records by the month-end so as to calculate leave encashment liability.

Leave encashment liabilities accounted as of September 30, 2021 will be considered final, said a communication sent to departmental heads.

“It is requested that each and every employee is advised to correctly update their leave details immediately,” it said.

Bids have been placed by the Tata Group and

promoter Ajay Singh, who has bid in his personal capacity. The government is keen to give up control by the end of the calendar year but the process may not be over before the end of this fiscal.

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