Sunday, October 16, 2016

With more funds, Centre wants to dress up Maharaja

New Delhi: The Modi government is planning to revive Air India's Maharaja in a very "big way". It could look at infusing more funds into AI as almost three-fourth of the Rs 31,000-crore equity promised during UPA time has been received.
"We are considering alternatives to strengthen its finances. AI's domestic share fell as it did not add equipment quickly while the market was growing. Now that their finances will be shored up, they will add equipment and gain market share. The strategy for AI is to have a strong domestic network with the hub currently in Delhi from where it will have direct flights to global business hubs and cities," aviation minister Jayant Sinha told TOI.
Asked if the government will look at more equity infusion into AI to strengthen its finances, the minister said, "We are looking at various options and will soon make our decision known."
AI is currently number three in domestic market share with IndiGo leading at 40%; Jet at a very distant number two and then AI, with SpiceJet snapping at its heels.
16/10/16 Saurabh Sinha/Times of India
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