Air India to seek 10k cr equity support to tide over crisis: Ravi

Mumbai: The cash-strapped national carrier, Air India, will seek more than 10,000 crore as equity support to tide over its financial crisis and turnaround operations, said the civil aviation minister Vayalar Ravi. "I am looking at a holistic approach and not a piecemeal solution to problems," he said in Mumbai after a meeting with Air India unions.
Ravi , who met the finance minister on Wednesday with a request to include 2,000 crore equity infusion package in the forth coming budget, said the decision to raise more than 10,000 crore from the government was taken at a recent review meeting.
He also said that there will be a review on management claim that 65% of the turnaround plan had been implemented.
Management and unions should come forward to lessen the financial concerns and less-than-satisfactory operational performance of Air India, the minister said. He was in Mumbai to meet the trade unions to take stock of the issues that confront the ailing airline.
17/03/11 Manisha Singhal/Economic Times

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

Categories: Air India Feb 2011