Government to instill additional Rs 800 crore into Air India



News:

  • Air India, which is grappling with tremendous financial stress, was allocated Rs 2,500 crore in the Union Budget 2015-16 and weas short of nearly Rs 4,300 crore sought by the Ministry for the national carrier.
  • The Finance Ministry sought Parliament’s nod for making an additional equity infusion into Air India worth Rs 800 crore, less than half the amount sought by the Civil Aviation Ministry for the national carrier.
  • Air India has achieved the target set out in the Turn Around Plan (TAP), and has made substantial progress in both operational as well as financial areas, Minister of State for Civil Aviation Minister Mahesh Sharma said.

Source: ET


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