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Govt panel to discuss AI finances today

The group of minister’s constituted to look into the financial restructuring of cash-starved state-run carrier Air India will meet on Wednesday to give a final shape to the proposed equity infusion of Rs 5,000 crore in the airline.

business Updated: Oct 20, 2009 21:25 IST
HT Correspondent

The group of minister’s constituted to look into the financial restructuring of cash-starved state-run carrier Air India will meet on Wednesday to give a final shape to the proposed equity infusion of Rs 5,000 crore in the airline.

“The group of ministers (GoM) headed by finance minister Pranab Mukherjee is meeting tomorrow. There are many issues (regarding the aviation sector) and Air India is one of them,” civil aviation minister, Praful Patel said on Tuesday.

“The government has broadly agreed to support Air India in its restructuring process on lines of the recommendations of the committee of secretaries (CoS). The CoS, headed by the cabinet secretary, has already approved a proposal to infuse Rs 5,000 crore as equity to Air-India over the next three years,” Patel said.

The GoM would also look at a presentation of Air India on its restructuring plan and try to address the issues, keeping in mind the recommendations of the Committee of Secretaries, Patel said.

“The government and the airline will have to find ways together to find a solution to the current problem,” the aviation minister said.