Wednesday, November 30, 2016

Measures to Improve Performance of Air India

Air India, with the active support of the Government, has taken a number of steps to improve its financial and operational performance. The Government had approved the Turnaround Plan/Financial Restructuring Plan (TAP/FRP) for the revival of Air India in 2012. The TAP/FRP includes budgetary support amounting to Rs 30,231 crores spread over 10 years i.e. up to FY 2020-21 and also equity support for the payment of principal/interest on the Non-Convertible Debentures. Air India has already received an Equity Infusion of Rs 22,280 crores over the period from F.Y 2011-12 to the end of March, 2016. For the year 2016-17, the Government has further allocated an amount of Rs 1713 crores. The total Accumulated Loss of Air India as per the audited accounts as on 31st March 2016 is Rs 41,380.45 crores.
29/11/16 Business Standard

0 Comments: