Air-India (AI) on Sunday announced a fresh turnaround plan 2010-2014. The carrier will restructure its working capital loans through a mix of bonds guaranteed by the government with longer tenure. SBI has been mandated to restructure AI?s
Rs 18,000-crore debt.
The properties of Nacil, which runs AI, will be monetised either through outright sale or as security for raising fresh loans. Civil aviation minister Praful Patel said the government would further help the carrier with equity infusion depending on its performance. The government has already sanctioned Rs 800-crore equity last year and
Rs 2,000 crore this year. The new plan has a goal to achieve on time punctuality of above 90% from the current 82% by 2015.