GoM may decide on fund infusion in AI next week

Bangalore: The civil aviation minister Vayalar Ravi said on Monday that the Group of Ministers (GoM) might take a call on a fresh round of equity infusion into the troubled national carrier Air India in a meeting scheduled next week.
"Our idea is to bring in cash flows. I believe in six months Air India can come to a position, not a profitable one, but in a position where the airline can stand on its feet," said Ravi. He was speaking on the sidelines of the Regional Centenary Celebrations of Civil Aviation in India.
The GoM will also discuss other recommendations to bring the airline back into profitability.
The government has already infused Rs 2,000 crore into the fund-starved carrier in the past two financial years. The airline has to repay a debt of Rs 43,000 crore.
20/09/11 Times of India

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

Categories: Air India Sep 2011