Air India loan restructuring to take 3 months: Vayalar Ravi

New Delhi: A financial restructuring plan of ailing state carrier Air India will take about three months to complete, the civil aviation minister said on Friday. "The entire exercise of finalising the financial restructuring plan and restructuring of loans would take about three months," Vayalar Ravi told Parliament in a written reply.
Air India is in talks with banks to restructure $4 billion of working capital debt and is in the midst of implementing a turnaround plan with a hub-and-spoke route model focus, cut costs by redeploying staff and unload non-core real estate.
12/08/11 Reuters/Economic Times

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Categories: Air India Aug 2011