Air India gets Rs 1,200-cr lifeline

New Delhi: The government has approved the infusion of Rs 1200 crore as additional equity in cash-strapped Air India with a condition that its management rationalise the wage structure of over 25,000 employees. “The infusion of enhanced equity fund would give much needed impetus to the Air India for its revival plan,” an official statement said.
The government had released R800 crore in February 2010 as equity induction in the National Aviation Company of India Limited (NACIL), now Air India Limited, for its revival plan.
30/12/10 Hindustan Times

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Categories: Air India Dec 2010