Air India gets government guarantee of Rs 2,100 crore

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New Delhi | Published: September 5, 2018 4:15:32 AM

State-owned, loss-making Air India has been assured of Rs 2,100 crore from the government in the form of guaranteed borrowing, civil aviation secretary RN Choubey said on Tuesday.

Air India gets government guarantee of Rs 2,100 crore

State-owned, loss-making Air India has been assured of Rs 2,100 crore from the government in the form of guaranteed borrowing, civil aviation secretary RN Choubey said on Tuesday.

So far this year, the government has provided Rs 1,630 crore, including supplementary provision of Rs 980 crore in August, to Air India as compared to the Budget estimate of only Rs 650 crore to tide over cash shortage.

Rising ATF price has been hurting airlines for over a year. AI’s fuel bill in FY17 was Rs 6,338 crore and could have gone up by 10% in FY18, according to an AI official.

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