A-I to seek more capital infusion from government

New Delhi: Outlining his priorities, Air-India Chairman and Managing Director-designate Raghu Menon today said the company will seek more capital infusion from the government to improve its financial health.
“We are already borrowing money for fleet acquisition. If the government infuses some bridge capital it will improve the company’s financials,” Menon said.
The airline posted a loss of around Rs 450 crore in 2006-07. He said maintaining time schedules and customer satisfaction would be the two other focus areas for the airline.
Menon said it would take two years to complete the physical merger of Indian Airlines and Air-India.The two state-run airlines were merged into a new company—National Aviation Co. of India Ltd.
The merged entity started operations August 2007. Menon, who is special secretary in the civil aviation ministry, will assume charge on April 1.
28/03/08 Newswire18/Business Standard

To Read the News in full at Source, Click the Headline

Categories: Air India - International Mar 2008, Air india Budget Mar 2008, Air India Domestic Mar 2008, Air India Regional Mar 2008, NACIL Mar 2008