India plans to infuse RS. 2000 crores in Air India – time for India to make Air India a proud Airlines again
Sudhir Chadda
Jul. 23, 2009

A aggered equity infusion by the government, initially to put in around Rs 1,300 crore, could go up later to Rs 2,000 crore into Air India. It will boost the morale of the Airline’s employees.

Modernization of Air India continues. Air India had ordered 111 aircraft and has already taken delivery of 48. The total investment for buying the aircraft is Rs 40,000 crore.

The committee of secretaries (CoS) headed by Cabinet Secretary K M Chandrasekhar and comprises Aviation Secretary M M Nambiar, Finance Secretary Ashok Chawla and Principal Secretary to the Prime Minister T K A Nair is determined to preserve the pride of Air India.

The committee was set up after aviation minister Praful Patel and Air India Chairman Arvind Jadhav made a presentation to Prime Minister Manmohan Singh on the airline’s financial crisis.

Top sources in government said there is no question of deferring the delivery of aircraft that have already been ordered as such a move would force them to pay penalties. Air India had ordered 111 aircraft and have already taken delivery of 48. The total investment for buying the aircraft is Rs 40,000 crore. “We should either stop all deliveries or continue to take the deliveries as we undertake the financial restructuring. Half-measures make no sense” said a senior official involved in the restructuring.

India plans to infuse RS. 2000 crores in Air India – time for India to make Air India a proud Airlines again
Sudhir Chadda
A aggered equity infusion by the government, initially to put in around Rs 1,300 crore, could go up later to Rs 2,000 crore into Air India. It will boost the morale of the Airline’s employees.
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