Even as Air India sale fails, check what tiny Cyprus just did


The Government of India’s efforts to sell off cash-strapped Air India has not seen any success so far. Air India has been eating massive amounts of tax-payers’ money and even then running into losses. Air India has even been failing to meet its working capital requirement and looking for loans to fix the problem.

Two days ago, Air India got a Rs 1000 crore loan from the National Small Savings Fund. It also received Rs 980 crore towards equity infusion by way of a supplementary grant from the Union government. The possibility of getting these amounts back is negligible indeed. So, keeping Air India in mind, what is happening in tiny Cyprus, really puts things in perspective about what is possible.

Notably, Air India further hopes to mop up Rs 500 crore through short-term borrowings next week. These are, however, stop-gap arrangements with no permanent cure of ailing airline in sight. Read More

You may also read!

Demand for new caste-, faith- or ethnicity-based regiments for Indian Army not in consonance with policy or national interest

If there is anything apolitical in India, it is its armed forces. Enough concern has been raised in recent

Read More...

India completes phase one of ballistic missile defence programme, nod for missiles awaited

In a boost to India’s deterrence capabilities, the phase one of the ambitious Ballistic Missile Defence (BMD) programme has

Read More...

India has shared evidence of JeM, Azhar’s terrorist activities with China: MEA

India shared with China all evidence of terrorist activities of Jaish-e-Mohammed (JeM) and its leader Masood Azhar during Foreign

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu