Am aware of Air India's woes, solution soon: PM

New Delhi: Stating that he was aware of the woes of the state-run Air India, Prime Minister Manmohan Singh said he has asked the ministerial group overseeing the turnaround of debt-ridden national carrier to come out with their recommendations fast.
"I will request (Finance Minister) Pranab Mukherjee to take expeditious decisions in the (Air India turnaround) matter," Prime Minister Singh told a group of editors from the print media Wednesday.
Mukherjee heads the group of ministers (GoM) which is looking into the company's turnaround plan prepared by global consultancy firm Delliote and SBI Caps.
The plan envisages further equity inclusion, conversion of short-term loans into long-term debt and hiving-off the company's maintenance and ground-handling arms.
The prime minister's comments on the flag carrier come at a time the airline is facing severe cash crunch and is unable to pay employees' salaries and other dues to a host of agencies like oil companies and airport operators on time.
01/07/11 ExpressBuzz

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Categories: Air India Jul 2011