New Delhi: A panel of secretaries has voted in favour of providing support of Rs 30,000 crore to Air India besides exploring the possibility of disinvesting government stake once the national carrier turns profitable.
The capital infusion plan, spread over 10 years, is expected to face criticism from certain quarters on the grounds that the government will nurse a sick airline only to sell its stake to private players once it is healthy.
According to the plan, the government estimates that Air India will make cash profits by financial year 2018 on equity infusion of Rs 30,231 crore.
22/11/11 Mahendra Kumar Singh/Times of India
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