Saturday, June 09, 2018

Air India seeks Rs 2,000 crore additional funding from government

Mumbai: Cash-crunched Air India, which delayed salaries for three months in a row, has sought an additional funding of around Rs 2,000 crore from the government to tide over the situation, a senior company official said.

The airline is expecting these funds next month when the government moves the first batch of Supplementary Demands for Grants for 2018-19 in the Monsoon session of Parliament, the official said.

The national carrier has already received more than Rs 26,000 crore of the 10-year Rs 30,231-crore bailout package announced by the former UPA government in April 2012.

"We have requested the government to restore equity infusion in the airline, which was stopped because of the proposed disinvestment.
09/06/18 New Indian Express