Govt mulls Rs 2,000-cr equity for Air India | business | Hindustan Times
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Govt mulls Rs 2,000-cr equity for Air India

business Updated: Oct 21, 2010 00:01 IST
HT Correspondent

The government may consider infusing further equity of Rs 2,000 crore in cash-starved Air India, after it is expected to grant the state-owned airline Rs 1,200 crore by next month.

“We can look at pumping another Rs 2,000 crore later,” said Praful Patel, Civil Aviation Minister on Wednesday when asked whether the government could infuse more funds to enhance the debt-equity ratio of the ailing national carrier.

“We have moved a Cabinet note for infusion of Civil Aviation Minister Civil Aviation Minister Rs 1,200 crore equity (in Air India). It has already been circulated (to members of the Cabinet). We hope that a decision is taken by November,” Patel said on the sidelines of a seminar on air traffic management. “Air India’s overall turnover would be higher.”