Tuesday, August 07, 2018

Government mulls Rs 11,000 crore bailout package for Air India

The Civil Aviation Ministry is in discussions with the Finance Ministry for a Rs 11,000 crore bailout package for ailing Air India, sources said.

The discussions come against the backdrop of a failed effort to privatise the loss-making airline, which continues to grapple with financial woes.

Sources in the know said that the Civil Aviation Ministry is working on a bailout package for the carrier, which would be utilised to reduce high cost working capital loans.

The proposal, which is at a preliminary stage of discussions, is for providing around Rs 11,000 crore package to Air India, they added. 
07/08/18 PTI/Financial Express