Friday, July 21, 2006

CCEA extends moratorium on Indian Airlines

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) today extended by 18 months the moratorium on payment of compensation to Indian Airlines due to merger of Vayudoot Ltd with it.
"The CCEA today gave its approval to extend the moratorium by a further period of one and half years beyond March 31, 2005 so that the remaining amount of Rs 3.11 crore out of the total amount of Rs 138.33 crore due by Indian airlines on account of merger with Vayudoot, could also be finally settled," Information and Broadcasting Minister Priyaranjan Dasmushi told reporters here.
The move would help Indian Airlines discharge liabilities of Vayudoot during the current financial year 2006-07 without financial burden.
20/07/06 Zee News
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