AI rejig plan to come up before GoM for approval
Air India's (AI) turnaround plan would be put-up before the group of ministers (GoM) for approval in the next couple of weeks. HT reports.india Updated: Jun 14, 2011 21:54 IST
Air India's (AI) turnaround plan would be put-up before the group of ministers (GoM) for approval in the next couple of weeks.
"The turnaround plan has been approved by the bankers. Now it needs to go to a GoM and it should happen very fast ...within the next couple of weeks," said Vayalar Ravi, civil aviation minister, on Tuesday.
When asked if the government was planning a further equity infusion into the ailing carrier, Ravi said his ministry was holding regular dialogue with the finance ministry. "We will continue this dialogue and go to the GoM when necessary."
AI was given Rs 250 crore by the government last week.
It was put on cash and carry by oil companies, which last month decided to supply that much oil for which the airline paid for. The matter was finally resolved on Monday. "Everything has been settled and there is a regular supply (of aviation turbine fuel) now," he said.
Meanwhile, the national carrier may soon have new faces as heads of the crucial divisions of finance, commercial and personnel. Discussions have already been held between the aviation ministry and the Public Enterprises Selection Board to appoint professionals to run the important divisions.