Thursday, March 16, 2017

AAI rejects AI plan to convert Rs 2,000 crore dues into equity

New Delhi: State-owned Airports Authority of India has rejected a proposal by national carrier Air India to partially convert dues worth Rs 2,300 crore into equity.

Air India, which is staying afloat on taxpayers' money, owes around Rs 2,300 crore to the national airports operator. These dues are towards landing and parking charges as well as route navigation charges.

Recently, a proposal from Air India to convert the outstanding dues into equity was rejected, a senior AAI official said.

The national carrier was looking to convert around Rs 2,000 crore of the total dues into equity for AAI, the official added.
On earlier occasions also, the airports operator had rejected similar proposals from the government-owned airline.
16/03/17 PTI/Economic Times