AIR INDIA to get R1,200 cr from govt

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.

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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.

“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.