National carrier Air India received equity infusion of Rs 4,800 crore from the government between April and October, but it may not receive the full amount originally promised to it for FY15.
A senior Air India official told FE that the debt-laden carrier had already received around 74% of the funds it was supposed to get in 2014-15 (Rs 6,500 crore), but the government’s allocation towards the debt-laden carrier’s turnaround plan had been reduced to
Rs 5,780 crore for the fiscal.
The official cited “fiscal contraction” as the reason for the government’s decision to revise downwards its share of equity infusion into the airline during the current fiscal. The central government is trying to cut down on spending to rein in the fiscal deficit.
04/12/14 Rhik Kundu/Financial Express
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A senior Air India official told FE that the debt-laden carrier had already received around 74% of the funds it was supposed to get in 2014-15 (Rs 6,500 crore), but the government’s allocation towards the debt-laden carrier’s turnaround plan had been reduced to
Rs 5,780 crore for the fiscal.
The official cited “fiscal contraction” as the reason for the government’s decision to revise downwards its share of equity infusion into the airline during the current fiscal. The central government is trying to cut down on spending to rein in the fiscal deficit.
04/12/14 Rhik Kundu/Financial Express
