Plans afoot to infuse Rs 1,200 crore as equity in Air India: Patel

New Delhi: After giving Rs 800 crores to Air India, the government plans to infuse Rs 1,200 crore more as equity in the national carrier in the current fiscal.
However, the amount will be released after Air India achieves specific cost-cutting targets, civil aviation minister Praful Patel said in a written reply to a Rajya Sabha query on Thursday.
"Government has also appointed four non-official part time directors on the board of NACIL in order to render professional and managerial advice to the board," the minister added.
Patel said under the turnaround plan of the national carrier, projected benefits of Air India during the last fiscal were Rs 1,911 crores and it has achieved savings of Rs 753 crores, Patel said.
The turnaround plan of NACIL is being continuously monitored by government and further financial assistance has been linked with achievement of specified target, he added.
15/04/10 PTI/Times of India

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Categories: NACIL Apr 2010