GoM decides additional equity infusion of Rs 1200 crore for Air India
A group of ministers on civil aviation has decided in-principle additional equity infusion of 1,200 crore rupees to Air India. Government decided payment of 532 crore rupees to national carrier for operating VVIP and rescue flights.
Speaking to reporters on Monday after the meet, civil aviation minister Vayalar Ravi said the GoM would again meet next week to finalise the payment details.Mr Ravi said a consensus has been reached on expediting equity infusion and implementing the revival plan.The panel is expected to take a final call on Air India’s turnaround and financial restructuring plans - prepared by the State Bank of India’s financial advisory arm SBI Caps - at its next meeting.
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