AI may have to wait till Sept for next tranche of govt funds

Air India is likely to get its next equity infusion of Rs 1,084 crore in September, which will be a part of the Rs 6,750 crore infusion announced by the government for the current fiscal.
“The infusion of Rs 1,084 crore will be done only in September, when the airline has to make some committed payments for its aircraft loans. We do not want to release it before that, as the airline will use it in paying salaries,” said a senior civil aviation ministry official, who did not want to be identified.
With the release of Rs 1,084 crore, the national carrier will receive a total of Rs 5,200 crore of the Rs 6,750 crore equity infusion announced for the current fiscal. Of the Rs 5,200 crore, Rs 1,200 crore was released in the last fiscal and Rs 2,916 crore has already been released in three installments in the current fiscal.
16/08/12 Indian Express

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Categories: Air India Aug 2012