New Delhi: Cash crunch due to a high fiscal deficit has held back infusion of equity of over Rs 3,574 crore in Air India, which may now be forced to raise money from the market, official sources said today.
Equity infusion "could be delayed but not denied", the sources said, adding that in the meantime, Air India could contemplate taking loans from the market to meet its immediate requirements.
Air India was also considering sale of land, including the one near Connaught Place in the heart of Delhi which was estimated to be worth Rs 700 crore, the sources said.
The Finance Ministry has decided to put on hold the equity infusion on grounds of lack of funds due to the high fiscal deficit and the falling rupee, they said.
25/08/13 PTI/Economic Times
To Read the News in full at Source, Click the Headline
Equity infusion "could be delayed but not denied", the sources said, adding that in the meantime, Air India could contemplate taking loans from the market to meet its immediate requirements.
Air India was also considering sale of land, including the one near Connaught Place in the heart of Delhi which was estimated to be worth Rs 700 crore, the sources said.
The Finance Ministry has decided to put on hold the equity infusion on grounds of lack of funds due to the high fiscal deficit and the falling rupee, they said.
25/08/13 PTI/Economic Times
