Mumbai/Delhi: Air India will utilise Rs 6500 equity infusion provided in the Union Budget for paying aircraft loan, interest on non convertible debentures and term loans and paying overude creditors.
Over Rs 15,700 crore was sanctioned as equity infusion for the national carrier during 2012-14 under the turnaround plan. However only Rs 13,200 crore was released till now leaving a shortfall of about Rs 2,500 crore. This was bridged by borrowing from banks following a central government guarantee.
An Air India source said the fresh equity infusion of Rs 6500 crore includes backlog of over Rs 2,500 crore and current year fund requirement of Rs 3400 crore. This will be used to pay aircraft loans and interest on non convertible debentures. Also Air India has to pay about Rs 400 crore in interest on term loans it availed in last two years. The funds will also be used to pay overdue creditors.
11/07/14 Business Standard
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Over Rs 15,700 crore was sanctioned as equity infusion for the national carrier during 2012-14 under the turnaround plan. However only Rs 13,200 crore was released till now leaving a shortfall of about Rs 2,500 crore. This was bridged by borrowing from banks following a central government guarantee.
An Air India source said the fresh equity infusion of Rs 6500 crore includes backlog of over Rs 2,500 crore and current year fund requirement of Rs 3400 crore. This will be used to pay aircraft loans and interest on non convertible debentures. Also Air India has to pay about Rs 400 crore in interest on term loans it availed in last two years. The funds will also be used to pay overdue creditors.
11/07/14 Business Standard
