Finance Minister Arun Jaitley on December 20 sought additional grant of over Rs 2,300 crore from the Parliament to be infused as equity in debt-laden Air India.
Jaitley tabled second round of supplementary grants for 2018-19 in Rajya Sabha and sought Rs 2,345 crore as equity infusion coupled with Rs 1,300 crore as grant-in-aid for the national carrier.
According to figures from Air India, government has already infused close to Rs 1,600 crore as equity infusion during FY19.
Moneycontrol reported on December 6 that the government was planning further financial assistance for Air India.
Pradeep Kharola, Chairman and Managing Director, Air India, had told Moneycontrol that the government had initiated discussions regarding the same and that the quantum was being decided.
Additional equity infusion by the government reflects the Centre's U-turn in the process of privatising the carrier which had failed to generate interest among private parties.
Moneycontrol also reported on December 10 that the government had withheld the idea to privatise the airline.
“The divestment has been put on hold for the time being,” Kharola had told Moneycontrol.
He said that the divestment has been “temporarily” put on hold and may not resume anytime soon.
Centre had invited bids for its 76 percent stake in Air India by 31st May 2018. The bidding, however, saw no expression of interest (EoI) coming forward despite some airlines, including IndiGo, showing interest in its individual business.
20/12/18 Moneycontrol
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Jaitley tabled second round of supplementary grants for 2018-19 in Rajya Sabha and sought Rs 2,345 crore as equity infusion coupled with Rs 1,300 crore as grant-in-aid for the national carrier.
According to figures from Air India, government has already infused close to Rs 1,600 crore as equity infusion during FY19.
Moneycontrol reported on December 6 that the government was planning further financial assistance for Air India.
Pradeep Kharola, Chairman and Managing Director, Air India, had told Moneycontrol that the government had initiated discussions regarding the same and that the quantum was being decided.
Additional equity infusion by the government reflects the Centre's U-turn in the process of privatising the carrier which had failed to generate interest among private parties.
Moneycontrol also reported on December 10 that the government had withheld the idea to privatise the airline.
“The divestment has been put on hold for the time being,” Kharola had told Moneycontrol.
He said that the divestment has been “temporarily” put on hold and may not resume anytime soon.
Centre had invited bids for its 76 percent stake in Air India by 31st May 2018. The bidding, however, saw no expression of interest (EoI) coming forward despite some airlines, including IndiGo, showing interest in its individual business.
20/12/18 Moneycontrol
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