Air India needs Rs 4,500-cr bailout: Patel

New Delhi: The civil aviation minister Mr Praful Patel today said cash-strapped Air India needed a bailout package of about Rs 4,500 crore to come out of the current financial crisis. The minister said the government needed to put in around Rs 2,500 crore of equity and about Rs 2,000 crore by way of soft loans.
In an interview to a private television channel, he said the equity could be repaid in future through partial disinvestment in the national carrier and soft loans could also be repaid to the government.
Suggesting that leading industrialists and technocrats like Mr Ratan Tata, Mr NR Narayana Murthy and Mr Sam Pitroda would be roped in for Air India’s revival, Mr Patel said: “If such people are willing to contribute for a public cause for bringing the national carrier back on track, I think it is a great thing.” He said they would function as independent directors.
09/07/09 The Statesman

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Categories: NACIL Jul 2009