AIR INDIA to get R1,200 cr from govt
Hindustan Times | HT Correspondent, Mumbai
Dec 27, 2010 10:16 PM IST
Troubled state-run carrier Air India will get a R1,200-crore fund infusion within next few days, aviation minister Praful Patel said today. HT reports.
Troubled state-run carrier Air India will get a R1,200-crore fund infusion within next few days, aviation minister Praful Patel said on Monday.
The company has a debt of around R19,000 crore. It had sought an additional R2,000 crore capital infusion from the government. It is trying to cut costs through fleet reduction and route rationalisation.
HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!
“It is a commitment of the government of India to ensure that the national carrier is in good health,” Patel said. “Some parameters have already improved, but more needs to be done.”
He said a restructuring plan is being drawn up for Air India, which be ready by January-end.
Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Get Current Updates on India News, Ram Navami Live Updates , Lok Sabha Election 2024 live, Elections 2024, Election 2024 Date along with Latest News and Top Headlines from India and around the world.
Get Current Updates on India News, Ram Navami Live Updates , Lok Sabha Election 2024 live, Elections 2024, Election 2024 Date along with Latest News and Top Headlines from India and around the world.
Share this article