AI likely to get another Rs 400 crore

The central government is likely to infuse another Rs 400 crore equity into the cash strapped National Aviation Company India Ltd (Nacil) that runs Air India.
Minister of civil aviation Praful Patel said the government is pushing for this infusion during the current fiscal.
“While the process to infuse the proposed Rs 800 crore into Air India (first round) will be completed in 8 to 10 days, we will seek the additional infusion during current budgetary proposition,” he said on the sidelines of the inauguration of a private airstrip in the Aamby Valley Township on Thursday.
Patel said another proposal his ministry wants to put forward to the budgetary committee would be tax rationalisation on aviation turbine fuel (ATF). “While this rationalisation has always been on our agenda, this has never happened, as this decision is always left to the state government and not the central,” said Patel.
05/02/10 Ramiya Bhas/Daily News & Analysis

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Categories: NACIL Feb 2010