Civil Aviation Ministry 'seeks' Rs 3,500 cr to strengthen Air India

A A

PTI: New Delhi, Jan 20 2013, 11:28 IST

to get an equity infusion of over Rs 30,000 crore in tranches over a period of nine years starting 2012-13.

The airline has got its short-term debt of Rs 18,000 crore restructured by converting 60 per cent into long-term loans and issue the bonds with sovereign guarantee to banks and financial bodies for the remaining portion.

The national carrier's losses have mounted from Rs 5,548.26 crore in 2008-09, Rs 5,552.44 crore in 2009-10, Rs 6,865.17 crore in 2010-11 to Rs 7,853 crore in 2011-12.

However in the past few months, it has seen some positive results in terms of positive cash flow due to cost-cutting measures.

Ads by Google

Single Page Format

Previous | 1 | 2

Loans taken by Air India now stand at a mammoth Rs 47,226 cr: Govt Aviation Min asks DIAL to cut interest on AI duesNew panel set up for AI turnaround Govt’s spending cuts likely to hit Air India’s turnaround plan

Previous Story Australia-Sri Lanka ODI called off after rain Next Story Barcelona suffer first Liga defeat of season

Reader's Comments (2)| Post a Comment

Fe Comment

KR | 20-Jan-2013Reply | Forward

Air India and its Express, with its pathetic record of poor customer service on and off the flight, government should sell it so it gets revamped and all non customer friendly personnel (probably all) need to be retired irrespective of age.

AIR INDIA N TAX PAYERS BLOOD TRANSFUSION

Guruji | 20-Jan-2013Reply | Forward

Sir, Air India is something that cannot be salvaged,when there are efficient capable private players to do that work how can GOI back nurturing an ailing Air India. Pilots are fudging their simulator training schedules/logs and here GOI is trying to invest money in training and what not. Hidden agenda: The Ministers n bureaucrats the first among equalsfear the loss of their privileges,special treatments meted out to them at Air India which will not be possible in a private Airline that's the reason they want to nurture this animal at taxpayers expense so that they can live the Maharaja style.