Civil aviation ministry seeks Rs 3,500 crore
The airline has got its short-term debt of R18,000 crore restructured by converting 60% 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 R5,548.26 crore in 2008-09, R5,552.44 crore in 2009-10, R6,865.17 crore in 2010-11 to R7,853 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.
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