Cabinet to take up Air India expansion plan after RBI report: Vayalar

Written by Press Trust of India | New Delhi | Updated: Oct 29 2011, 07:23am hrs
The issue of additional equity infusion of R6,600 crore in Air India and acquisition plan for 27 Boeing 787 Dreamliner planes would be referred to the Union Cabinet after the RBI gives its views on debt restructuring plan for the ailing national carrier.

The decision was taken on Friday at a meeting of a group of ministers headed by finance minister Pranab Mukherjee.

A report on (Air Indias) debt restructuring prepared by the Committee of Officers will be reviewed by the RBI within a week. Only after that will any decision be taken, civil aviation minister Vayalar Ravi told reporters after the meeting.

The civil aviation ministry has already moved a proposal for additional equity infusion of R6,600 crore for the ailing carrier to enable the airline clear its massive dues.