Friday, October 12, 2018

Air India's new bailout package unlikely to include fresh equity infusion: report

The government has decided that Air India's new bailout deal should not comprise fresh equity infusion other than the Rs 980 crore for which Parliament approval was secured in July, reported Mint on Friday.
The government move said to have come in view of reduced fiscal headroom for further spending, according to the report.
The new bailout scheme will include a set of performance improvement measures, cost cutting and selective asset sale of the flag airline, the report said citing  a government official privy to the development.
Air India had sought for Rs 2,121 crore from the Centre as part of the ongoing bailout package but the airlines received only Rs 650 crore for meeting operational expenses, the report said.
12/10/18 CNBC TV18
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