New Delhi: The government today announced Rs 5,000 crore additional equity infusion for debt-ridden national carrier Air India in the next fiscal as part of its turn around plan.
"Rs 5,000 crore (has been marked) for equity infusion in National Aviation Company of India Ltd (now Air India Ltd)," according to Budget documents.
Air India will also be able to generate Rs 1,318.60 crore through internal and extra budgetary resources (IEBR) in 2013-14, it said.
In April, 2012, the government had approved a turn around plan and a financial restructuring plan for improving the operational and financial performance of Air India as its losses had increased considerably to Rs 7,853 crore in 2011-12 from the levels of Rs 5,548.26 crore in 2008-09.
28/02/13 PTI/Times of India
