Government hopes all will be OK with Air India post loan rejig

New Delhi: With the Reserve Band of India approving a financial restructuring plan for cash-strapped Air India, Government today hoped that things will move in a positive direction for the national carrier.
"I think things would move in a positive direction," Civil Aviation Minister Vayalar Ravi said replying to a question on RBI clearing the proposal.
Yesterday, the RBI cleared the debt restructuring plan for the loss making carrier under which the bank approved extension of the loan tenures to 15 years from 10 years.
The decision, which would considerably ease the debt servicing burden of the troubled airline, was taken at a meeting that was attended by officials of the RBI, Air India and SBI Caps which has submitted the debt restructuring proposal. "Our officers have discussed the issue with them (RBI officials) and explained the situation. They (RBI) made some suggestions," Ravi said refusing to elaborate further.
26/11/11 PTI/Economic Times

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Categories: Air India Nov 2011