Air India receives second round of equity infusion

New Delhi: Air India received the second tranche of equity infusion from the government amounting to Rs 666 crore this May, out of the budgeted Rs 4,000 crore for fiscal 2012-13.
The debt-laden airline has been promised financial support in small tranches till 2020-21, aggregating Rs 30,000 crore. In the current financial year, the carrier will receive Rs 5,500 crore overall. The Rs 4,000 crore will be used to clear all dues to oil companies and airports and for salaries.
The government had invested Rs 1,200 crore in fiscal 2011-12, taking Air India's equity base to Rs 3,345 crore.
17/07/12 Anindya Upadhyay & Sagar Malviya/Economic Times

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Categories: Air India Jul 2012